Jacobs Levy Equity Management Inc. Increases Stock Position in TG Therapeutics, Inc. (NASDAQ:TGTX)

Jacobs Levy Equity Management Inc. lifted its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 29.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 524,861 shares of the biopharmaceutical company’s stock after acquiring an additional 120,699 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in TG Therapeutics were worth $7,983,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Pingora Partners LLC bought a new position in shares of TG Therapeutics during the 4th quarter worth approximately $27,000. Lazard Asset Management LLC bought a new position in shares of TG Therapeutics during the 1st quarter worth approximately $91,000. NBC Securities Inc. raised its stake in shares of TG Therapeutics by 34.5% during the 4th quarter. NBC Securities Inc. now owns 9,401 shares of the biopharmaceutical company’s stock worth $160,000 after acquiring an additional 2,409 shares in the last quarter. Private Portfolio Partners LLC bought a new position in shares of TG Therapeutics during the 4th quarter worth approximately $201,000. Finally, Private Advisor Group LLC bought a new position in shares of TG Therapeutics during the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Price Performance

TGTX traded down $0.60 during midday trading on Tuesday, hitting $19.21. 2,800,766 shares of the company traded hands, compared to its average volume of 3,639,129. The company has a current ratio of 3.62, a quick ratio of 2.84 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 86.13 and a beta of 2.23. TG Therapeutics, Inc. has a 52-week low of $6.46 and a 52-week high of $23.12. The business has a 50 day simple moving average of $18.28 and a two-hundred day simple moving average of $16.41.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $63.47 million for the quarter, compared to analysts’ expectations of $54.60 million. TG Therapeutics had a net margin of 14.24% and a return on equity of 31.34%. The business’s revenue for the quarter was up 713.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, equities analysts forecast that TG Therapeutics, Inc. will post -0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TGTX. LADENBURG THALM/SH SH upped their price target on shares of TG Therapeutics from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. HC Wainwright upped their price target on shares of TG Therapeutics from $45.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $25.00 price target on shares of TG Therapeutics in a research note on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.83.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.