TG Therapeutics, Inc. $TGTX Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 249,256 shares of the biopharmaceutical company’s stock after buying an additional 13,779 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in TG Therapeutics were worth $13,694,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE boosted its holdings in TG Therapeutics by 71.7% in the 1st quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock valued at $48,544,000 after purchasing an additional 610,195 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $12,937,000. Hsbc Holdings PLC lifted its holdings in shares of TG Therapeutics by 228.7% in the 4th quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock valued at $4,374,000 after buying an additional 101,646 shares during the period. Gibbs Wealth Management boosted its stake in shares of TG Therapeutics by 75.3% in the first quarter. Gibbs Wealth Management now owns 28,018 shares of the biopharmaceutical company’s stock valued at $931,000 after buying an additional 12,032 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of TG Therapeutics in the second quarter valued at approximately $2,285,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America boosted their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. B. Riley Financial upped their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. HC Wainwright reissued a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a research note on Tuesday, September 1st. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.00.

TG Therapeutics Stock Performance

NASDAQ TGTX opened at $55.99 on Friday. The business’s 50-day moving average price is $53.54 and its 200 day moving average price is $42.77. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. TG Therapeutics, Inc. has a twelve month low of $26.76 and a twelve month high of $59.30. The company has a market capitalization of $8.57 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The company had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business’s revenue for the quarter was up 70.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 EPS. On average, research analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

About TG Therapeutics

TG Therapeutics, Inc is a clinical?stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small?molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.