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

Raymond James Financial Inc. purchased a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 481,989 shares of the biopharmaceutical company’s stock, valued at approximately $14,508,000. Raymond James Financial Inc. owned about 0.31% of TG Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGTX. Blue Trust Inc. boosted its stake in TG Therapeutics by 24.5% during the fourth quarter. Blue Trust Inc. now owns 1,887 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 371 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in TG Therapeutics by 512.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,905 shares of the biopharmaceutical company’s stock worth $60,000 after buying an additional 1,594 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in TG Therapeutics by 460.7% during the fourth quarter. Jones Financial Companies Lllp now owns 2,114 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 1,737 shares during the last quarter. Synergy Asset Management LLC acquired a new position in TG Therapeutics during the fourth quarter worth $75,000. Finally, GAMMA Investing LLC boosted its stake in TG Therapeutics by 562.4% during the fourth quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 2,171 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

TG Therapeutics Price Performance

TGTX stock opened at $39.88 on Wednesday. The company has a current ratio of 4.59, a quick ratio of 3.91 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $6.26 billion, a PE ratio of -398.76 and a beta of 2.30. TG Therapeutics, Inc. has a 12-month low of $12.93 and a 12-month high of $41.85. The business’s fifty day moving average price is $32.35 and its 200 day moving average price is $29.32.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm had revenue of $108.19 million for 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%. On average, sell-side analysts anticipate that TG Therapeutics, Inc. will post 0.08 EPS for the current year.

Insider Activity at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 11,337 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $30.29, for a total transaction of $343,397.73. Following the sale, the chief financial officer now owns 670,632 shares in the company, valued at $20,313,443.28. This represents a 1.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.50% of the company’s stock.

Analysts Set New Price Targets

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

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.