Norges Bank Buys Shares of 401,495 TG Therapeutics, Inc. (NASDAQ:TGTX)

Norges Bank acquired a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 401,495 shares of the biopharmaceutical company’s stock, valued at approximately $12,085,000.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its position in TG Therapeutics by 35.8% during the third quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock valued at $212,712,000 after purchasing an additional 2,398,015 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after buying an additional 725,371 shares in the last quarter. Raymond James Financial Inc. bought a new stake in TG Therapeutics in the 4th quarter worth approximately $14,508,000. Braun Stacey Associates Inc. purchased a new stake in TG Therapeutics in the fourth quarter worth approximately $13,328,000. Finally, Castellan Group bought a new position in TG Therapeutics during the fourth quarter valued at approximately $8,539,000. 58.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TGTX has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of TG Therapeutics in a research note on Tuesday, March 4th. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

TG Therapeutics Price Performance

TGTX stock opened at $37.25 on Tuesday. 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 firm’s 50-day moving average price is $35.38 and its two-hundred day moving average price is $30.98. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -372.46 and a beta of 2.14. TG Therapeutics, Inc. has a 12-month low of $12.93 and a 12-month high of $43.32.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $108.19 million during the quarter, compared to analyst estimates of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. As a group, equities analysts predict that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

TG Therapeutics Profile

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.