UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in TG Therapeutics, Inc. $TGTX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,256 shares of the biopharmaceutical company’s stock after acquiring an additional 13,779 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.16% of TG Therapeutics worth $13,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in TG Therapeutics during the 2nd quarter worth about $1,211,429,000. Bank of America Corp DE purchased a new stake in shares of TG Therapeutics during the second quarter worth approximately $71,960,000. Bank of New York Mellon Corp purchased a new stake in shares of TG Therapeutics during the second quarter worth approximately $49,472,000. Man Group plc lifted its stake in TG Therapeutics by 621.5% in the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after acquiring an additional 868,697 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of TG Therapeutics by 856.6% in the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock valued at $20,380,000 after purchasing an additional 612,189 shares in the last quarter. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

TG Therapeutics Price Performance

Shares of NASDAQ:TGTX opened at $55.99 on Friday. TG Therapeutics, Inc. has a one year low of $26.76 and a one year high of $59.30. The stock has a market capitalization of $8.57 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.40 and a beta of 1.67. The company has a 50-day simple moving average of $53.54 and a 200-day simple moving average of $42.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly 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). The company had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The business’s quarterly revenue was up 70.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. On average, analysts predict that TG Therapeutics, Inc. will post 0.92 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on TGTX. JPMorgan Chase & Co. upped their price target on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating and issued a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. B. Riley Financial raised their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a research report on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, TG Therapeutics currently has an average rating of “Hold” and an average price target 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.