Allspring Global Investments Holdings LLC Reduces Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Allspring Global Investments Holdings LLC trimmed its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,118 shares of the biopharmaceutical company’s stock after selling 1,195 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TG Therapeutics were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of TGTX. Marshall Wace LLP purchased a new position in TG Therapeutics during the second quarter worth $36,501,000. Hood River Capital Management LLC purchased a new position in TG Therapeutics during the first quarter worth $22,420,000. Point72 Asset Management L.P. purchased a new stake in shares of TG Therapeutics during the second quarter valued at $10,423,000. Assenagon Asset Management S.A. purchased a new stake in shares of TG Therapeutics during the second quarter valued at $8,698,000. Finally, Point72 Europe London LLP purchased a new stake in shares of TG Therapeutics during the second quarter valued at $2,860,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TGTX. B. Riley boosted their target price on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. TD Cowen began coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of TG Therapeutics in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.33.

TG Therapeutics Stock Performance

TGTX stock opened at $26.90 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The business has a 50-day moving average price of $23.51 and a 200 day moving average price of $20.01. The company has a market capitalization of $4.16 billion, a P/E ratio of 44.10 and a beta of 2.21. TG Therapeutics, Inc. has a 1-year low of $9.81 and a 1-year high of $26.99.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $73.47 million during the quarter, compared to the consensus estimate of $65.92 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The firm’s quarterly revenue was up 357.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) earnings per share. As a group, equities research analysts forecast that TG Therapeutics, Inc. will post 0.12 EPS for the current fiscal year.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.