Occidental Asset Management LLC Acquires New Position in TG Therapeutics, Inc. $TGTX

Occidental Asset Management LLC bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) in the second quarter, according to its most recent filing with the SEC. The firm bought 12,040 shares of the biopharmaceutical company’s stock, valued at approximately $661,000.

Several other large investors also recently bought and sold shares of TGTX. Bank of New York Mellon Corp acquired a new position in TG Therapeutics during the 2nd quarter valued at approximately $49,472,000. Man Group plc lifted its stake in shares of TG Therapeutics by 621.5% during the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after buying an additional 868,697 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of TG Therapeutics by 856.6% during the fourth quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock worth $20,380,000 after buying an additional 612,189 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $36,029,000 after buying an additional 612,068 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of TG Therapeutics by 71.7% during the first quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock valued at $48,544,000 after buying an additional 610,195 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Up 1.1%

Shares of TGTX opened at $49.28 on Tuesday. The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 2.09 and a beta of 1.62. TG Therapeutics, Inc. has a 52 week low of $26.76 and a 52 week high of $59.30. The stock’s 50-day moving average price is $52.64 and its 200-day moving average price is $40.37. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The company had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. The firm’s revenue was up 70.2% compared to the same quarter last year. On average, sell-side analysts predict that TG Therapeutics, Inc. will post 0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $78.00 target price on shares of TG Therapeutics in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Bank of America increased their price objective on TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Jefferies Financial Group restated a “buy” rating and set a $83.00 price objective on shares of TG Therapeutics in a research note on Monday, June 22nd. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.00.

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.