Hsbc Holdings PLC Purchases 101,646 Shares of TG Therapeutics, Inc. $TGTX

Hsbc Holdings PLC grew its position in TG Therapeutics, Inc. (NASDAQ:TGTX) by 228.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 146,087 shares of the biopharmaceutical company’s stock after purchasing an additional 101,646 shares during the period. Hsbc Holdings PLC’s holdings in TG Therapeutics were worth $4,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in TGTX. Royal Bank of Canada increased its position in TG Therapeutics by 16.4% during the 1st quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock worth $2,985,000 after buying an additional 10,660 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of TG Therapeutics by 9.6% during the first quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 665 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of TG Therapeutics by 21.9% in the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of TG Therapeutics by 5.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock valued at $11,319,000 after acquiring an additional 14,689 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of TG Therapeutics by 86.3% in 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. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $55.83 on Friday. The stock has a fifty day moving average price of $42.19 and a 200-day moving average price of $34.57. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 19.52 and a beta of 1.68. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. TG Therapeutics, Inc. has a fifty-two week low of $25.28 and a fifty-two week high of $57.38.

TG Therapeutics (NASDAQ:TGTX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The company had revenue of $204.92 million during the quarter, compared to the consensus estimate of $200.33 million. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.The firm’s revenue for the quarter was up 69.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. As a group, equities analysts anticipate that TG Therapeutics, Inc. will post 1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

TGTX has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $83.00 price target on shares of TG Therapeutics in a research report on Monday, June 22nd. Zacks Research upgraded shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, May 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of TG Therapeutics in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.60.

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.