Mackenzie Financial Corp Buys 6,699 Shares of TG Therapeutics, Inc. (NASDAQ:TGTX)

Mackenzie Financial Corp raised its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 75.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,587 shares of the biopharmaceutical company’s stock after buying an additional 6,699 shares during the period. Mackenzie Financial Corp’s holdings in TG Therapeutics were worth $615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vermillion Wealth Management Inc. bought a new stake in shares of TG Therapeutics in the fourth quarter worth $30,000. NBC Securities Inc. grew its stake in shares of TG Therapeutics by 82,300.0% during the 1st quarter. NBC Securities Inc. now owns 824 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 823 shares during the period. Golden State Wealth Management LLC grew its stake in shares of TG Therapeutics by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 866 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 433 shares during the period. Quadrant Capital Group LLC increased its position in shares of TG Therapeutics by 137.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,686 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 975 shares during the last quarter. Finally, USA Financial Formulas bought a new position in shares of TG Therapeutics in the 1st quarter worth approximately $57,000. 58.58% of the stock is owned by institutional investors.

TG Therapeutics Stock Down 2.5%

TGTX stock opened at $27.70 on Thursday. The business’s 50-day moving average price is $36.42 and its 200-day moving average price is $35.99. The stock has a market cap of $4.40 billion, a P/E ratio of 74.86 and a beta of 1.95. The company has a quick ratio of 3.04, a current ratio of 4.02 and a debt-to-equity ratio of 1.03. TG Therapeutics, Inc. has a twelve month low of $19.44 and a twelve month high of $46.48.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.15). The firm had revenue of $141.15 million during the quarter, compared to the consensus estimate of $147.76 million. TG Therapeutics had a return on equity of 27.83% and a net margin of 13.31%. The business’s revenue for the quarter was up 92.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, equities research analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other TG Therapeutics news, Director Yann Echelard sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the sale, the director directly owned 228,816 shares of the company’s stock, valued at $8,452,463.04. This trade represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.64% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of TG Therapeutics to a “hold” rating and set a $37.00 target price for the company in a research report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $43.80.

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.