TG Therapeutics, Inc. $TGTX Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP increased its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 697.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 478,265 shares of the biopharmaceutical company’s stock after purchasing an additional 418,300 shares during the quarter. Wellington Management Group LLP’s holdings in TG Therapeutics were worth $26,276,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TGTX. Danske Bank A S purchased a new stake in TG Therapeutics in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its holdings in shares of TG Therapeutics by 51.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 365 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of TG Therapeutics by 82.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 560 shares during the period. Truvestments Capital LLC boosted its position in shares of TG Therapeutics by 172.4% in the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of TG Therapeutics in the fourth quarter worth approximately $52,000. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Price Performance

TGTX stock opened at $55.99 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. TG Therapeutics, Inc. has a 1 year low of $26.76 and a 1 year high of $59.30. The stock has a 50-day simple moving average of $53.54 and a 200-day simple moving average of $42.77. The firm has a market cap of $8.57 billion, a P/E 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 data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The firm had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. During the same quarter in the prior year, the business earned $0.17 EPS. The company’s revenue for the quarter was up 70.2% on a year-over-year basis. On average, equities analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TGTX has been the subject of several research analyst reports. B. Riley Financial upped their price target 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. Bank of America lifted their price target on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday, July 29th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.00.

TG Therapeutics Company Profile

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.