Envestnet Portfolio Solutions Inc. Makes New Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Envestnet Portfolio Solutions Inc. bought a new position in TG Therapeutics, Inc. (NASDAQ:TGTX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,177 shares of the biopharmaceutical company’s stock, valued at approximately $216,000.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake 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 purchasing an additional 2,398,015 shares during the last quarter. Principal Financial Group Inc. increased its position in 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 valued at $18,061,000 after buying an additional 725,371 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in TG Therapeutics in the fourth quarter valued at about $14,508,000. Braun Stacey Associates Inc. acquired a new stake in TG Therapeutics in the fourth quarter worth about $13,328,000. Finally, Castellan Group purchased a new stake in shares of TG Therapeutics during the fourth quarter worth about $8,539,000. Institutional investors own 58.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TGTX shares. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of TG Therapeutics in a research note on Tuesday, March 4th. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and an average target price of $40.67.

Insider Buying and Selling at TG Therapeutics

In related news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction that occurred 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 $18,847,231.83. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.50% of the company’s stock.

TG Therapeutics Trading Down 0.8 %

TGTX stock opened at $39.86 on Friday. The firm has a market cap of $6.26 billion, a P/E ratio of -398.56 and a beta of 2.30. The company’s 50-day simple moving average is $34.37 and its 200-day simple moving average is $30.29. The company has a quick ratio of 3.91, a current ratio of 4.59 and a debt-to-equity ratio of 1.27. TG Therapeutics, Inc. has a 52-week low of $12.93 and a 52-week high of $43.32.

TG Therapeutics (NASDAQ:TGTX) last announced its earnings results on Monday, March 3rd. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The firm had revenue of $108.19 million for the quarter, compared to analyst estimates of $100.67 million. As a group, equities analysts forecast that TG Therapeutics, Inc. will post 0.08 EPS for the current fiscal 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.