Hillsdale Investment Management Inc. Acquires New Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Hillsdale Investment Management Inc. acquired a new stake in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 150,200 shares of the biopharmaceutical company’s stock, valued at approximately $4,521,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in TG Therapeutics by 24.5% during the 4th quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 371 shares during the period. Smartleaf Asset Management LLC increased its holdings in TG Therapeutics by 512.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock worth $60,000 after purchasing an additional 1,594 shares during the period. Jones Financial Companies Lllp increased its holdings in TG Therapeutics by 460.7% during the 4th quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock worth $64,000 after purchasing an additional 1,737 shares during the period. Synergy Asset Management LLC purchased a new stake in TG Therapeutics during the 4th quarter worth about $75,000. Finally, GAMMA Investing LLC increased its holdings in TG Therapeutics by 562.4% during the 4th quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company’s stock worth $77,000 after purchasing an additional 2,171 shares during the period. Hedge funds and other institutional investors own 58.58% of the company’s stock.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $30.29, for a total transaction of $343,397.73. Following the completion of the sale, the chief financial officer now directly owns 670,632 shares of the company’s stock, valued at approximately $20,313,443.28. This trade represents a 1.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.50% of the company’s stock.

TG Therapeutics Stock Up 2.6 %

Shares of NASDAQ TGTX opened at $42.99 on Friday. The stock has a market cap of $6.75 billion, a PE ratio of -429.86 and a beta of 2.30. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. TG Therapeutics, Inc. has a 52-week low of $12.93 and a 52-week high of $43.15. The business has a 50-day moving average price of $33.17 and a 200 day moving average price of $29.63.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on TGTX. JPMorgan Chase & Co. upped their price target on TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of TG Therapeutics in a research report on Tuesday, March 4th. Finally, StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

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.