Sofinnova Investments Inc. Cuts Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX)

Sofinnova Investments Inc. decreased its holdings in TG Therapeutics, Inc. (NASDAQ:TGTX) by 6.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,861,277 shares of the biopharmaceutical company’s stock after selling 123,685 shares during the period. TG Therapeutics comprises approximately 1.7% of Sofinnova Investments Inc.’s investment portfolio, making the stock its 15th biggest holding. Sofinnova Investments Inc. owned about 1.20% of TG Therapeutics worth $33,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TGTX. Vanguard Group Inc. raised its position in shares of TG Therapeutics by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 13,670,944 shares of the biopharmaceutical company’s stock worth $233,500,000 after acquiring an additional 199,770 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of TG Therapeutics by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock valued at $53,627,000 after buying an additional 43,290 shares in the last quarter. Opaleye Management Inc. grew its position in shares of TG Therapeutics by 2.9% in the 1st quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company’s stock worth $34,679,000 after buying an additional 65,000 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of TG Therapeutics during the 1st quarter worth approximately $22,420,000. Finally, Charles Schwab Investment Management Inc. lifted its position in TG Therapeutics by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,131,896 shares of the biopharmaceutical company’s stock valued at $19,333,000 after acquiring an additional 19,214 shares during the last quarter. Institutional investors own 58.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TGTX. The Goldman Sachs Group upped their price target on TG Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $49.00 target price on shares of TG Therapeutics in a research note on Tuesday, August 6th. Finally, B. Riley raised their price target 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.83.

TG Therapeutics Stock Up 4.9 %

NASDAQ:TGTX opened at $24.89 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The company’s fifty day moving average price is $21.73 and its 200-day moving average price is $18.15. TG Therapeutics, Inc. has a 1-year low of $6.46 and a 1-year high of $25.87. The firm has a market capitalization of $3.85 billion, a P/E ratio of 108.22 and a beta of 2.21.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The company had revenue of $73.47 million for the quarter, compared to the consensus estimate of $65.92 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The firm’s revenue for the quarter was up 357.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) EPS. As a group, equities research analysts anticipate that TG Therapeutics, Inc. will post 0.13 EPS 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.