Renaissance Technologies LLC Buys Shares of 340,900 TG Therapeutics, Inc. $TGTX

Renaissance Technologies LLC purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 340,900 shares of the biopharmaceutical company’s stock, valued at approximately $11,325,000. Renaissance Technologies LLC owned about 0.22% of TG Therapeutics at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Danske Bank A S purchased a new stake in TG Therapeutics in the third quarter valued at about $25,000. Hantz Financial Services Inc. increased its holdings in shares of TG Therapeutics by 82.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 560 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of TG Therapeutics by 86.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 573 shares in the last quarter. Truvestments Capital LLC raised its position in shares of TG Therapeutics by 172.4% in the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 1,026 shares during the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in TG Therapeutics in the 4th quarter worth approximately $52,000. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Stock Performance

Shares of NASDAQ TGTX opened at $52.03 on Friday. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. TG Therapeutics, Inc. has a 12 month low of $25.28 and a 12 month high of $59.30. The company has a 50 day simple moving average of $50.48 and a two-hundred day simple moving average of $38.86. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.30 and a beta of 1.60.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The business had revenue of $204.92 million during the quarter, compared to analyst estimates of $200.33 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s revenue was up 69.5% compared to the same quarter last year. As a group, analysts predict that TG Therapeutics, Inc. will post 1.46 earnings per share for the current year.

Analysts Set New Price Targets

TGTX has been the topic of several research analyst reports. B. Riley Financial boosted their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Jefferies Financial Group reiterated a “buy” rating and set a $83.00 price objective on shares of TG Therapeutics in a research note on Monday, June 22nd. Bank of America boosted their price objective 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. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.