TG Therapeutics, Inc. $TGTX Stock: Maryland State Retirement & Pension System Increases Holdings

Maryland State Retirement & Pension System lifted its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 65.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,673 shares of the biopharmaceutical company’s stock after buying an additional 12,503 shares during the period. Maryland State Retirement & Pension System’s holdings in TG Therapeutics were worth $1,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in TG Therapeutics in the second quarter valued at approximately $1,211,429,000. Bank of America Corp DE purchased a new position in TG Therapeutics in the second quarter worth approximately $71,960,000. Bank of New York Mellon Corp acquired a new stake in TG Therapeutics during the second quarter worth $49,472,000. Dimensional Fund Advisors LP increased its stake in TG Therapeutics by 129.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after acquiring an additional 612,068 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in TG Therapeutics by 697.6% during the second quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company’s stock worth $26,276,000 after acquiring an additional 418,300 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Trading Down 0.1%

Shares of TG Therapeutics stock traded down $0.05 on Friday, reaching $64.51. The company had a trading volume of 1,095,871 shares, compared to its average volume of 2,131,002. The firm’s 50 day moving average price is $56.69 and its two-hundred day moving average price is $45.33. The firm has a market cap of $9.75 billion, a PE ratio of 97.74, a PEG ratio of 5.08 and a beta of 1.89. TG Therapeutics, Inc. has a 52-week low of $26.76 and a 52-week high of $68.03. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.72 and a current ratio of 4.50.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). TG Therapeutics had a return on equity of 18.82% and a net margin of 11.81%. The company had revenue of $259.94 million during the quarter, compared to analyst estimates of $245.47 million. During the same quarter in the prior year, the company posted $2.43 earnings per share. The business’s revenue was up 60.8% compared to the same quarter last year. Sell-side analysts predict that TG Therapeutics, Inc. will post 1.10 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Laurence Charney sold 5,000 shares of TG Therapeutics stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.96, for a total value of $274,800.00. Following the completion of the sale, the director owned 168,640 shares in the company, valued at approximately $9,268,454.40. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

TGTX has been the topic of a number of research analyst reports. Wall Street Zen upgraded TG Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised TG Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 4th. HC Wainwright reiterated a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. B. Riley Financial raised their price objective on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised TG Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TG Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $63.00.

TG Therapeutics Company Profile

TG Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for B-cell diseases, including autoimmune disorders and blood cancers. Its research has centered on therapies that target B cells, a type of immune cell involved in these conditions. The company’s marketed product, BRIUMVI (ublituximab-xiiy), is an anti-CD20 monoclonal antibody approved in the United States to treat adults with relapsing forms of multiple sclerosis. TG Therapeutics also has investigated other drug candidates and combinations for immune-related and hematologic diseases.