Penn Capital Management Company LLC Increases Stake in TG Therapeutics, Inc. $TGTX

Penn Capital Management Company LLC grew its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 538,117 shares of the biopharmaceutical company’s stock after buying an additional 16,857 shares during the quarter. TG Therapeutics accounts for 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 29th largest holding. Penn Capital Management Company LLC owned 0.34% of TG Therapeutics worth $16,082,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Congress Asset Management Co. purchased a new position in TG Therapeutics during the 4th quarter worth $57,307,000. Nordea Investment Management AB purchased a new position in TG Therapeutics during the 4th quarter worth $2,356,000. Public Sector Pension Investment Board raised its position in TG Therapeutics by 14.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 529,271 shares of the biopharmaceutical company’s stock worth $19,120,000 after buying an additional 66,911 shares during the last quarter. JPMorgan Chase & Co. raised its position in TG Therapeutics by 56.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 227,934 shares of the biopharmaceutical company’s stock worth $8,234,000 after buying an additional 81,907 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in TG Therapeutics by 1,031.3% during the 3rd quarter. WINTON GROUP Ltd now owns 125,000 shares of the biopharmaceutical company’s stock worth $4,516,000 after buying an additional 113,951 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Zacks Research downgraded shares of TG Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. HC Wainwright upped their price target on shares of TG Therapeutics from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Finally, Weiss Ratings raised shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.50.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $39.73 on Wednesday. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. TG Therapeutics, Inc. has a fifty-two week low of $25.28 and a fifty-two week high of $44.65. The stock has a market cap of $6.08 billion, a PE ratio of 13.89 and a beta of 1.68. The firm’s fifty day simple moving average is $35.70 and its 200-day simple moving average is $32.18.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The company had revenue of $204.92 million for the quarter, compared to analyst estimates of $200.33 million. During the same period last year, the company earned $0.03 earnings per share. The business’s revenue for the quarter was up 69.5% compared to the same quarter last year. Analysts expect that TG Therapeutics, Inc. will post 1.31 earnings per share for the current fiscal year.

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.