Pictet Asset Management Holding SA Grows Position in TG Therapeutics, Inc. $TGTX

Pictet Asset Management Holding SA raised its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 19.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,747,373 shares of the biopharmaceutical company’s stock after acquiring an additional 286,325 shares during the period. Pictet Asset Management Holding SA’s holdings in TG Therapeutics were worth $58,048,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Congress Asset Management Co. purchased a new stake in shares of TG Therapeutics in the fourth quarter valued at about $57,307,000. Man Group plc boosted its holdings in TG Therapeutics by 621.5% during the third quarter. Man Group plc now owns 1,008,462 shares of the biopharmaceutical company’s stock worth $36,431,000 after purchasing an additional 868,697 shares during the last quarter. BNP Paribas Financial Markets grew its position in TG Therapeutics by 856.6% in the 4th quarter. BNP Paribas Financial Markets now owns 683,653 shares of the biopharmaceutical company’s stock worth $20,380,000 after purchasing an additional 612,189 shares in the last quarter. Goldman Sachs Group Inc. grew its position in TG Therapeutics by 35.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock worth $61,144,000 after purchasing an additional 531,759 shares in the last quarter. Finally, Invesco Ltd. increased its stake in TG Therapeutics by 47.1% in the 4th quarter. Invesco Ltd. now owns 1,609,815 shares of the biopharmaceutical company’s stock valued at $47,989,000 after buying an additional 515,481 shares during the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Jefferies Financial Group reissued a “buy” rating and set a $83.00 target price on shares of TG Therapeutics in a research report on Monday, June 22nd. Zacks Research raised TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings upgraded TG Therapeutics from a “hold (c)” rating to a “hold (c+)” rating in a 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 research report on Wednesday, May 27th. 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.60.

TG Therapeutics Trading Down 0.2%

Shares of TGTX stock opened at $55.72 on Tuesday. The company has a quick ratio of 5.12, a current ratio of 5.81 and a debt-to-equity ratio of 1.28. The firm has a market cap of $8.53 billion, a P/E ratio of 19.48 and a beta of 1.68. The company has a 50 day moving average of $42.62 and a 200-day moving average of $34.78. TG Therapeutics, Inc. has a 12-month low of $25.28 and a 12-month high of $57.38.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Wednesday, May 6th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.11). The firm had revenue of $204.92 million for the quarter, compared to the consensus estimate 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 period last year, the company posted $0.03 earnings per share. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.51 earnings per share for the current year.

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.