Pitcairn Co. Makes New $354,000 Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Pitcairn Co. acquired a new stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 11,745 shares of the biopharmaceutical company’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC purchased a new stake in TG Therapeutics during the 4th quarter valued at about $245,000. Castellan Group purchased a new stake in TG Therapeutics in the fourth quarter valued at approximately $8,539,000. Barclays PLC boosted its position in TG Therapeutics by 83.9% in the third quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company’s stock valued at $8,117,000 after buying an additional 158,323 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TG Therapeutics by 60.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 720,798 shares of the biopharmaceutical company’s stock worth $16,859,000 after buying an additional 270,286 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in TG Therapeutics during the 3rd quarter worth approximately $2,358,000. Hedge funds and other institutional investors own 58.58% of the company’s stock.

TG Therapeutics Stock Down 5.1 %

TGTX opened at $37.35 on Friday. The company has a fifty day moving average of $35.27 and a two-hundred day moving average of $30.85. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of -373.46 and a beta of 2.13. TG Therapeutics, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $43.32. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm 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%. On average, research analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. HC Wainwright reiterated 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 report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.67.

Insider Transactions at TG Therapeutics

In related news, CFO Sean A. Power sold 10,021 shares of TG Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $28.53, for a total value of $285,899.13. Following the sale, the chief financial officer now owns 660,611 shares of the company’s stock, valued at approximately $18,847,231.83. This trade represents a 1.49 % 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. Corporate 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.