State of Alaska Department of Revenue Raises Stock Holdings in TG Therapeutics, Inc. $TGTX

State of Alaska Department of Revenue lifted its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 29.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,205 shares of the biopharmaceutical company’s stock after acquiring an additional 19,932 shares during the period. State of Alaska Department of Revenue owned 0.06% of TG Therapeutics worth $2,629,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signature Wealth Management Partners LLC raised its stake in TG Therapeutics by 3.7% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 11,180 shares of the biopharmaceutical company’s stock valued at $404,000 after purchasing an additional 400 shares during the last quarter. Amalgamated Bank boosted its stake in shares of TG Therapeutics by 1.1% during the 3rd quarter. Amalgamated Bank now owns 39,248 shares of the biopharmaceutical company’s stock worth $1,418,000 after purchasing an additional 424 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of TG Therapeutics by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after buying an additional 441 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of TG Therapeutics by 21.0% during the third quarter. Smartleaf Asset Management LLC now owns 2,693 shares of the biopharmaceutical company’s stock worth $99,000 after buying an additional 467 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of TG Therapeutics by 117.1% in the third quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 486 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective 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. The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Cantor Fitzgerald reiterated an “overweight” rating on shares of TG Therapeutics in a report on Wednesday, January 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research note on Monday, December 29th. Finally, Wall Street Zen cut TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

TG Therapeutics Trading Up 3.0%

NASDAQ TGTX opened at $35.33 on Friday. The company has a market cap of $5.64 billion, a P/E ratio of 12.75 and a beta of 1.76. TG Therapeutics, Inc. has a 12 month low of $25.28 and a 12 month high of $46.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.10 and a quick ratio of 3.29. The company has a 50-day moving average of $30.87 and a 200-day moving average of $31.53.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.21). TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.The company had revenue of $192.57 million during the quarter, compared to analyst estimates of $192.15 million. During the same period in the prior year, the business posted $0.15 earnings per share. TG Therapeutics’s revenue was up 78.0% on a year-over-year basis. As a group, equities analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

TG Therapeutics 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.