TG Therapeutics, Inc. (NASDAQ:TGTX) Stake Increased by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT increased its stake in TG Therapeutics, Inc. (NASDAQ:TGTX) by 20.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,532 shares of the biopharmaceutical company’s stock after buying an additional 8,175 shares during the period. Iridian Asset Management LLC CT’s holdings in TG Therapeutics were worth $1,112,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGTX. New York State Teachers Retirement System acquired a new position in TG Therapeutics in the third quarter worth $1,004,000. State of Alaska Department of Revenue acquired a new position in TG Therapeutics in the third quarter worth $1,780,000. Louisiana State Employees Retirement System acquired a new position in TG Therapeutics in the third quarter worth $1,509,000. CWC Advisors LLC. acquired a new position in TG Therapeutics in the third quarter worth $378,000. Finally, Values First Advisors Inc. acquired a new position in TG Therapeutics in the third quarter worth $58,000. Institutional investors own 58.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen assumed coverage on shares of TG Therapeutics in a report on Tuesday. They issued a “buy” rating and a $50.00 price objective for the company. B. Riley lifted their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, HC Wainwright reissued a “buy” rating and set a $49.00 price target on shares of TG Therapeutics in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and an average target price of $34.43.

TG Therapeutics Stock Performance

Shares of TGTX opened at $25.13 on Thursday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 109.26 and a beta of 2.21. The firm has a fifty day moving average of $23.44 and a 200-day moving average of $19.89. TG Therapeutics, Inc. has a 1 year low of $7.17 and a 1 year high of $26.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.83 and a current ratio of 3.58.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The business had revenue of $73.47 million during the quarter, compared to the consensus estimate of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The company’s quarterly revenue was up 357.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.34) earnings per share. As a group, equities analysts anticipate that TG Therapeutics, Inc. will post 0.13 earnings per share for the current year.

TG Therapeutics Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.