Penn Capital Management Company LLC Grows Stock Position in TG Therapeutics, Inc. $TGTX

Penn Capital Management Company LLC boosted its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 17.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 521,260 shares of the biopharmaceutical company’s stock after acquiring an additional 77,895 shares during the period. TG Therapeutics accounts for about 1.5% of Penn Capital Management Company LLC’s investment portfolio, making the stock its 12th largest position. Penn Capital Management Company LLC owned about 0.33% of TG Therapeutics worth $18,877,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new stake in shares of TG Therapeutics in the second quarter valued at approximately $25,000. Danske Bank A S purchased a new position in shares of TG Therapeutics during the 3rd quarter worth approximately $25,000. Optiver Holding B.V. raised its position in shares of TG Therapeutics by 3,485.7% during the 3rd quarter. Optiver Holding B.V. now owns 753 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 732 shares during the last quarter. Bessemer Group Inc. raised its position in shares of TG Therapeutics by 117.1% during the 3rd quarter. Bessemer Group Inc. now owns 901 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 486 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in TG Therapeutics in the 3rd quarter valued at approximately $34,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TGTX. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research report on Monday, December 29th. The Goldman Sachs Group upped their price objective on TG Therapeutics from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, January 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of TG Therapeutics in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of TG Therapeutics from $49.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $50.00.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $31.51 on Wednesday. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $46.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.29 and a current ratio of 4.10. The firm has a 50 day moving average price of $29.54 and a 200 day moving average price of $31.52. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 11.38 and a beta of 1.87.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.21). The company had revenue of $192.57 million for the quarter, compared to analysts’ expectations of $192.15 million. TG Therapeutics had a return on equity of 101.12% and a net margin of 72.56%.The business’s revenue for the quarter was up 78.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. Sell-side analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share 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.