TG Therapeutics, Inc. (NASDAQ:TGTX) Stake Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 1,549.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 772,188 shares of the biopharmaceutical company’s stock after purchasing an additional 725,371 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of TG Therapeutics worth $18,061,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in TG Therapeutics in the second quarter worth $36,501,000. Hood River Capital Management LLC bought a new position in shares of TG Therapeutics during the first quarter worth about $22,420,000. Point72 Asset Management L.P. acquired a new stake in shares of TG Therapeutics in the 2nd quarter worth about $10,423,000. Assenagon Asset Management S.A. bought a new stake in TG Therapeutics in the 2nd quarter valued at about $8,698,000. Finally, Point72 Europe London LLP acquired a new position in TG Therapeutics during the 2nd quarter valued at about $2,860,000. Institutional investors own 58.58% of the company’s stock.

Insider Activity

In related news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the transaction, the director now owns 100,195 shares of the company’s stock, valued at approximately $3,049,935.80. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by company insiders.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $30.85 on Friday. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average of $24.59 and a 200-day moving average of $20.96. TG Therapeutics, Inc. has a twelve month low of $10.82 and a twelve month high of $36.50. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of -308.45 and a beta of 2.19.

TG Therapeutics (NASDAQ:TGTX) last issued its earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The business had revenue of $83.90 million for the quarter, compared to the consensus estimate of $81.68 million. During the same quarter in the previous year, the business posted $0.73 earnings per share. The company’s quarterly revenue was down 49.4% on a year-over-year basis. Analysts forecast that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TGTX. HC Wainwright raised their price target on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. B. Riley raised their target price on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Finally, TD Cowen started coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, TG Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

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.