Edgestream Partners L.P. Buys Shares of 168,351 TG Therapeutics, Inc. $TGTX

Edgestream Partners L.P. bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 168,351 shares of the biopharmaceutical company’s stock, valued at approximately $5,593,000. Edgestream Partners L.P. owned 0.11% of TG Therapeutics as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of TG Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock valued at $472,220,000 after buying an additional 319,703 shares in the last quarter. State Street Corp lifted its holdings in TG Therapeutics by 4.7% during the fourth quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock worth $252,789,000 after acquiring an additional 379,380 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in TG Therapeutics by 35.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock worth $61,144,000 after acquiring an additional 531,759 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in TG Therapeutics by 19.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock worth $58,048,000 after acquiring an additional 286,325 shares in the last quarter. Finally, Invesco Ltd. grew its stake in TG Therapeutics by 47.1% in the fourth quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock valued at $47,989,000 after acquiring an additional 515,481 shares during the period. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Up 0.1%

NASDAQ:TGTX opened at $53.53 on Friday. The stock has a 50-day simple moving average of $50.21 and a 200 day simple moving average of $38.77. TG Therapeutics, Inc. has a 52-week low of $25.28 and a 52-week high of $59.30. The company has a market cap of $8.19 billion, a PE ratio of 18.72, a PEG ratio of 1.34 and a beta of 1.60. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.11). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The company’s revenue was up 69.5% on a year-over-year basis. On average, sell-side analysts expect that TG Therapeutics, Inc. will post 1.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TGTX shares. Jefferies Financial Group restated a “buy” rating and issued a $83.00 price target on shares of TG Therapeutics in a report on Monday, June 22nd. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. 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 research note on Tuesday, July 7th. HC Wainwright increased their price objective on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, B. Riley Financial raised their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a report on Monday. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, TG Therapeutics has an average rating of “Hold” and an average target price of $58.50.

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.