JPMorgan Chase & Co. Acquires 270,286 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

JPMorgan Chase & Co. raised its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 60.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 720,798 shares of the biopharmaceutical company’s stock after acquiring an additional 270,286 shares during the period. JPMorgan Chase & Co.’s holdings in TG Therapeutics were worth $16,859,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. State Street Corp grew 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 buying an additional 2,398,015 shares during the period. Marshall Wace LLP purchased a new stake in shares of TG Therapeutics in the 2nd quarter worth $36,501,000. Principal Financial Group Inc. raised its holdings in TG Therapeutics by 1,549.4% in the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after purchasing an additional 725,371 shares during the period. Point72 Asset Management L.P. purchased a new position in TG Therapeutics during the second quarter valued at $10,423,000. Finally, Public Sector Pension Investment Board bought a new stake in TG Therapeutics during the third quarter valued at about $6,619,000. 58.58% of the stock is currently owned by institutional investors.

TG Therapeutics Trading Up 0.4 %

Shares of TGTX opened at $28.88 on Friday. TG Therapeutics, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $36.84. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The company’s fifty day moving average is $31.45 and its 200 day moving average is $25.28. The stock has a market capitalization of $4.50 billion, a PE ratio of -288.77 and a beta of 2.24.

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

Wall Street Analyst Weigh In

TGTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. HC Wainwright raised their price target on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $40.67.

Insider Activity

In related news, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the sale, the director now owns 100,195 shares in the company, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sean A. Power sold 11,337 shares of TG Therapeutics stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $30.29, for a total transaction of $343,397.73. Following the sale, the chief financial officer now directly owns 670,632 shares of the company’s stock, valued at $20,313,443.28. This represents a 1.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,358 shares of company stock valued at $781,497 in the last ninety days. Insiders own 10.50% of the company’s stock.

TG Therapeutics Company 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.