Castleark Management LLC Takes Position in TG Therapeutics, Inc. $TGTX

Castleark Management LLC bought a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 150,990 shares of the biopharmaceutical company’s stock, valued at approximately $8,295,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Danske Bank A S acquired a new position in TG Therapeutics in the third quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in shares of TG Therapeutics by 51.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 365 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of TG Therapeutics by 82.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 560 shares during the last quarter. Truvestments Capital LLC boosted its position in shares of TG Therapeutics by 172.4% in the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of TG Therapeutics in the 4th quarter valued at about $52,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $55.42 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 4.27 and a quick ratio of 3.72. The business has a 50 day simple moving average of $53.24 and a 200-day simple moving average of $41.36. TG Therapeutics, Inc. has a 12 month low of $26.76 and a 12 month high of $59.30. The stock has a market capitalization of $8.48 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.40 and a beta of 1.62.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The company had revenue of $240.34 million for the quarter, compared to analysts’ expectations of $229.77 million. TG Therapeutics had a return on equity of 73.49% and a net margin of 55.22%.The firm’s quarterly revenue was up 70.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 EPS. Equities analysts predict that TG Therapeutics, Inc. will post 0.92 earnings per share for the current year.

Analysts Set New Price Targets

TGTX has been the topic of several research analyst reports. B. Riley Financial lifted their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. HC Wainwright reiterated a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a research note on Tuesday, August 4th. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, TG Therapeutics presently has a consensus rating of “Hold” and an average price target of $63.00.

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.