Castleark Management LLC Buys Shares of 150,990 TG Therapeutics, Inc. $TGTX

Castleark Management LLC bought a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 150,990 shares of the biopharmaceutical company’s stock, valued at approximately $8,295,000. Castleark Management LLC owned 0.10% of TG Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of TG Therapeutics in the 2nd quarter worth approximately $1,211,429,000. Vanguard Group Inc. boosted its position in shares of TG Therapeutics by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 15,841,002 shares of the biopharmaceutical company’s stock worth $472,220,000 after buying an additional 319,703 shares during the period. State Street Corp boosted its position in shares of TG Therapeutics by 4.7% during the fourth quarter. State Street Corp now owns 8,479,999 shares of the biopharmaceutical company’s stock worth $252,789,000 after buying an additional 379,380 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of TG Therapeutics by 35.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,051,132 shares of the biopharmaceutical company’s stock valued at $61,144,000 after buying an additional 531,759 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of TG Therapeutics by 19.6% in the first quarter. Pictet Asset Management Holding SA now owns 1,747,373 shares of the biopharmaceutical company’s stock valued at $58,048,000 after buying an additional 286,325 shares in the last quarter. 58.58% of the stock is currently owned by institutional investors and hedge funds.

TG Therapeutics Trading Down 1.1%

NASDAQ TGTX opened at $55.42 on Wednesday. TG Therapeutics, Inc. has a 52 week low of $26.76 and a 52 week high of $59.30. The firm has a 50 day moving average of $53.24 and a two-hundred day moving average of $41.36. The company has a quick ratio of 3.72, a current ratio of 4.27 and a debt-to-equity ratio of 1.23. 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 announced its quarterly earnings data on Monday, August 3rd. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26). The firm had revenue of $240.34 million during the quarter, compared to analyst estimates of $229.77 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. TG Therapeutics’s revenue for the quarter was up 70.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, research analysts expect that TG Therapeutics, Inc. will post 0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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