TG Therapeutics, Inc. $TGTX Shares Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC boosted its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 538,117 shares of the biopharmaceutical company’s stock after acquiring an additional 16,857 shares during the period. TG Therapeutics accounts for about 1.3% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 29th largest position. Penn Capital Management Company LLC’s holdings in TG Therapeutics were worth $16,082,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in TG Therapeutics by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock valued at $472,220,000 after acquiring an additional 319,703 shares during the last quarter. State Street Corp grew its stake in TG Therapeutics by 2.5% in the 2nd quarter. State Street Corp now owns 7,618,238 shares of the biopharmaceutical company’s stock valued at $274,180,000 after acquiring an additional 184,339 shares during the last quarter. Congress Asset Management Co. acquired a new stake in TG Therapeutics in the 4th quarter valued at about $57,307,000. Goldman Sachs Group Inc. grew its stake in TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock valued at $75,683,000 after acquiring an additional 345,059 shares during the last quarter. Finally, Invesco Ltd. grew its stake in TG Therapeutics by 12.8% in the 3rd quarter. Invesco Ltd. now owns 1,094,334 shares of the biopharmaceutical company’s stock valued at $39,533,000 after acquiring an additional 124,429 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TGTX has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. Wall Street Zen cut shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Zacks Research lowered shares of TG Therapeutics from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, HC Wainwright upped their target price on shares of TG Therapeutics from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and an average target price of $52.50.

TG Therapeutics Price Performance

NASDAQ:TGTX opened at $39.73 on Wednesday. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 13.89 and a beta of 1.68. The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average is $35.70 and its two-hundred day moving average is $32.18. TG Therapeutics, Inc. has a 12-month low of $25.28 and a 12-month high of $44.65.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The firm had revenue of $204.92 million during the quarter, compared to analysts’ expectations of $200.33 million. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. TG Therapeutics’s revenue for the quarter was up 69.5% on a year-over-year basis. During the same quarter last year, the company posted $0.03 earnings per share. Research analysts expect that TG Therapeutics, Inc. will post 1.31 EPS for the current year.

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.