Millennium Management LLC Sells 1,966,138 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Millennium Management LLC trimmed its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 57.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,457,908 shares of the biopharmaceutical company’s stock after selling 1,966,138 shares during the period. Millennium Management LLC owned 0.94% of TG Therapeutics worth $25,936,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in TG Therapeutics in the 2nd quarter worth approximately $35,000. DekaBank Deutsche Girozentrale purchased a new position in shares of TG Therapeutics in the first quarter worth $58,000. Lazard Asset Management LLC bought a new position in shares of TG Therapeutics during the first quarter worth $91,000. nVerses Capital LLC grew its stake in TG Therapeutics by 34.9% during the second quarter. nVerses Capital LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $103,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in TG Therapeutics in the 2nd quarter valued at $124,000. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Down 0.8 %

NASDAQ:TGTX opened at $22.19 on Friday. The stock has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $18.72. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 96.52 and a beta of 2.21. TG Therapeutics, Inc. has a twelve month low of $6.46 and a twelve month high of $26.41.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $73.47 million during the quarter, compared to analyst estimates of $65.92 million. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The firm’s revenue for the quarter was up 357.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.34) EPS. Analysts anticipate that TG Therapeutics, Inc. will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on TGTX shares. The Goldman Sachs Group increased their price objective on shares of TG Therapeutics from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 price objective on shares of TG Therapeutics in a research note on Wednesday, September 18th. Finally, B. Riley upped their price objective on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, TG Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $31.83.

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.