Raymond James Financial Inc. Invests $14.51 Million in TG Therapeutics, Inc. (NASDAQ:TGTX)

Raymond James Financial Inc. acquired a new position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 481,989 shares of the biopharmaceutical company’s stock, valued at approximately $14,508,000.

Several other institutional investors and hedge funds have also made changes to their positions in TGTX. State Street Corp boosted its position in shares of TG Therapeutics by 35.8% during the 3rd quarter. State Street Corp now owns 9,094,158 shares of the biopharmaceutical company’s stock worth $212,712,000 after acquiring an additional 2,398,015 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of TG Therapeutics by 1,549.4% during the 3rd quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after acquiring an additional 725,371 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of TG Therapeutics during the 4th quarter worth about $13,328,000. Castellan Group acquired a new position in shares of TG Therapeutics during the 4th quarter worth about $8,539,000. Finally, Public Sector Pension Investment Board acquired a new position in shares of TG Therapeutics during the 3rd quarter worth about $6,619,000. 58.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TGTX shares. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on TG Therapeutics from $30.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.67.

Insider Buying and Selling at TG Therapeutics

In other 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 transaction, the chief financial officer now directly owns 670,632 shares of the company’s stock, valued at approximately $20,313,443.28. This represents a 1.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is owned by company insiders.

TG Therapeutics Stock Down 2.9 %

TGTX opened at $39.88 on Wednesday. The business has a 50 day moving average price of $32.35 and a two-hundred day moving average price of $29.32. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. The company has a market cap of $6.26 billion, a PE ratio of -398.76 and a beta of 2.30. TG Therapeutics, Inc. has a 52 week low of $12.93 and a 52 week high of $41.85.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.15 EPS 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 the consensus estimate of $100.67 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. As a group, research analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

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.