Louisiana State Employees Retirement System Purchases New Shares in TG Therapeutics, Inc. $TGTX

Louisiana State Employees Retirement System purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,300 shares of the biopharmaceutical company’s stock, valued at approximately $2,003,000.

A number of other institutional investors have also added to or reduced their stakes in TGTX. Maryland State Retirement & Pension System boosted its holdings in shares of TG Therapeutics by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock valued at $593,000 after buying an additional 393 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TG Therapeutics by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after acquiring an additional 441 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of TG Therapeutics by 16.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after acquiring an additional 454 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in TG Therapeutics by 1.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,062 shares of the biopharmaceutical company’s stock valued at $926,000 after acquiring an additional 500 shares during the period. Finally, Pingora Partners LLC lifted its position in TG Therapeutics by 31.2% during the 4th quarter. Pingora Partners LLC now owns 2,100 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 500 shares during the period. Institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Performance

Shares of TG Therapeutics stock opened at $54.94 on Wednesday. TG Therapeutics, Inc. has a 1 year low of $25.28 and a 1 year high of $57.38. The firm’s 50-day moving average is $43.01 and its 200 day moving average is $34.95. The stock has a market cap of $8.41 billion, a price-to-earnings ratio of 19.21 and a beta of 1.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12.

TG Therapeutics (NASDAQ:TGTX) last released 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 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%. The firm’s revenue for the quarter was up 69.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. Sell-side analysts anticipate that TG Therapeutics, Inc. will post 1.51 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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