TG Therapeutics, Inc. (NASDAQ:TGTX) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its position in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,500 shares of the biopharmaceutical company’s stock after selling 400 shares during the period. Synovus Financial Corp’s holdings in TG Therapeutics were worth $587,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC purchased a new position in TG Therapeutics in the 4th quarter valued at $55,237,000. Principal Financial Group Inc. grew its stake 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 acquiring an additional 725,371 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in TG Therapeutics in the 4th quarter valued at about $14,508,000. Braun Stacey Associates Inc. acquired a new position in shares of TG Therapeutics during the 4th quarter worth approximately $13,328,000. Finally, Norges Bank purchased a new stake in shares of TG Therapeutics in the fourth quarter valued at approximately $12,085,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TGTX. StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of TG Therapeutics in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, TG Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $40.67.

TG Therapeutics Stock Up 0.3 %

TG Therapeutics stock opened at $38.32 on Friday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 3.91 and a current ratio of 4.59. The firm has a 50 day moving average price of $36.20 and a 200 day moving average price of $31.74. TG Therapeutics, Inc. has a fifty-two week low of $12.93 and a fifty-two week high of $43.32. The company has a market capitalization of $6.02 billion, a PE ratio of -383.16 and a beta of 2.14.

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