Wellington Management Group LLP Increases Stock Position in TG Therapeutics, Inc. $TGTX

Wellington Management Group LLP boosted its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 697.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 478,265 shares of the biopharmaceutical company’s stock after purchasing an additional 418,300 shares during the period. Wellington Management Group LLP owned approximately 0.31% of TG Therapeutics worth $26,276,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TGTX. Danske Bank A S acquired a new position in TG Therapeutics in the 3rd quarter valued at about $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of TG Therapeutics by 51.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 365 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of TG Therapeutics by 82.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 560 shares during the period. Truvestments Capital LLC raised its stake in shares of TG Therapeutics by 172.4% during the fourth quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of TG Therapeutics during the fourth quarter worth $52,000. 58.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TGTX shares. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a research report on Wednesday, July 29th. Bank of America lifted their target price on shares of TG Therapeutics from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Tuesday, July 7th. B. Riley Financial boosted their price target on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. increased their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, TG Therapeutics presently has an average rating of “Hold” and an average target price of $63.00.

TG Therapeutics Stock Down 1.3%

TG Therapeutics stock opened at $55.99 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. The stock’s fifty day moving average is $53.54 and its two-hundred day moving average is $42.77. TG Therapeutics, Inc. has a fifty-two week low of $26.76 and a fifty-two week high of $59.30. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.40 and a beta of 1.67.

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

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.