Bank of New York Mellon Corp Increases Holdings in TG Therapeutics, Inc. $TGTX

Bank of New York Mellon Corp raised its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 1.5% in the second quarter, HoldingsChannel reports. The firm owned 906,475 shares of the biopharmaceutical company’s stock after buying an additional 13,675 shares during the quarter. Bank of New York Mellon Corp’s holdings in TG Therapeutics were worth $32,624,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TGTX. Sigma Planning Corp increased its stake in shares of TG Therapeutics by 10.9% during the second quarter. Sigma Planning Corp now owns 35,227 shares of the biopharmaceutical company’s stock valued at $1,268,000 after buying an additional 3,472 shares during the period. Canton Hathaway LLC boosted its holdings in TG Therapeutics by 46.5% in the second quarter. Canton Hathaway LLC now owns 8,600 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 2,730 shares in the last quarter. Amalgamated Bank increased its position in TG Therapeutics by 1.3% during the 2nd quarter. Amalgamated Bank now owns 38,824 shares of the biopharmaceutical company’s stock valued at $1,397,000 after purchasing an additional 501 shares during the period. Yorktown Management & Research Co Inc bought a new position in TG Therapeutics in the 2nd quarter worth $383,000. Finally, GWN Securities Inc. raised its holdings in TG Therapeutics by 100.0% in the 2nd quarter. GWN Securities Inc. now owns 53,774 shares of the biopharmaceutical company’s stock worth $1,936,000 after purchasing an additional 26,884 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Trading Down 0.2%

NASDAQ TGTX opened at $30.96 on Friday. TG Therapeutics, Inc. has a 12 month low of $25.28 and a 12 month high of $46.48. The company has a current ratio of 3.86, a quick ratio of 2.96 and a debt-to-equity ratio of 0.89. The stock’s fifty day moving average price is $33.93 and its 200-day moving average price is $34.45. The stock has a market cap of $4.92 billion, a P/E ratio of 83.68 and a beta of 1.95.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 3rd. The biopharmaceutical company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $2.19. TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The company had revenue of $161.71 million for the quarter, compared to analysts’ expectations of $152.12 million. During the same quarter in the previous year, the business posted $0.02 EPS. TG Therapeutics’s revenue was up 92.7% compared to the same quarter last year. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity at TG Therapeutics

In other news, Director Sagar Lonial sold 20,852 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $32.24, for a total transaction of $672,268.48. Following the sale, the director owned 94,061 shares in the company, valued at $3,032,526.64. This represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 10.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TGTX. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TG Therapeutics in a research note on Wednesday, October 8th. B. Riley raised TG Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 4th. Wall Street Zen upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. HC Wainwright assumed coverage on TG Therapeutics in a research note on Monday, October 6th. They issued a “buy” rating and a $60.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on TG Therapeutics from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, TG Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $50.25.

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.