Louisiana State Employees Retirement System Makes New $2 Million Investment in TG Therapeutics, Inc. $TGTX

Louisiana State Employees Retirement System bought a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 1st quarter, Holdings Channel reports. The firm bought 60,300 shares of the biopharmaceutical company’s stock, valued at approximately $2,003,000.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in shares of TG Therapeutics by 218.0% during the first quarter. Assenagon Asset Management S.A. now owns 510,054 shares of the biopharmaceutical company’s stock valued at $16,944,000 after purchasing an additional 349,664 shares during the last quarter. CWC Advisors LLC. lifted its position in TG Therapeutics by 44.2% during the first quarter. CWC Advisors LLC. now owns 19,081 shares of the biopharmaceutical company’s stock valued at $634,000 after purchasing an additional 5,848 shares during the period. Hsbc Holdings PLC boosted its holdings in TG Therapeutics by 228.7% in the fourth quarter. Hsbc Holdings PLC now owns 146,087 shares of the biopharmaceutical company’s stock worth $4,374,000 after purchasing an additional 101,646 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in TG Therapeutics by 29.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,058 shares of the biopharmaceutical company’s stock worth $687,000 after purchasing an additional 5,292 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in TG Therapeutics by 3.6% in the fourth quarter. Corient Private Wealth LLC now owns 41,764 shares of the biopharmaceutical company’s stock worth $1,245,000 after purchasing an additional 1,469 shares during the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Price Performance

NASDAQ TGTX opened at $54.94 on Wednesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. The business’s fifty day moving average is $43.01 and its 200 day moving average is $34.95. The company has a market capitalization of $8.41 billion, a PE ratio of 19.21 and a beta of 1.68. 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 posted its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.11). The company had revenue of $204.92 million for 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%. The firm’s quarterly revenue was up 69.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. Sell-side analysts predict that TG Therapeutics, Inc. will post 1.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TGTX shares. Weiss Ratings upgraded shares of TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. HC Wainwright restated a “buy” rating and issued a $70.00 price target on shares of TG Therapeutics in a research note on Wednesday, May 27th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. Finally, Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, TG Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $58.60.

TG Therapeutics 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.