Raymond James Financial Inc. Grows Stock Position in TG Therapeutics, Inc. $TGTX

Key Points

• Raymond James Financial Inc. increased its ownership in TG Therapeutics by 42.6%, acquiring an additional 205,111 shares, bringing their total to 687,100 shares valued at approximately $27.09 million.
• Analysts have given TG Therapeutics a consensus rating of "Moderate Buy" with a price target of $46.25, although Goldman Sachs recently raised its rating to "hold" with a target of $37.00.
• Despite a 92.1% year-over-year revenue increase, TG Therapeutics missed earnings estimates, reporting EPS of $0.17 compared to expectations of $0.32.

Raymond James Financial Inc. lifted its stake in shares of TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) by 42.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 687,100 shares of the biopharmaceutical company's stock after buying an additional 205,111 shares during the quarter. Raymond James Financial Inc. owned approximately 0.43% of TG Therapeutics worth $27,092,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealthedge Investment Advisors LLC acquired a new position in shares of TG Therapeutics during the first quarter worth about $1,060,000. Sector Gamma AS purchased a new stake in TG Therapeutics during the first quarter worth approximately $2,169,000. Fox Run Management L.L.C. purchased a new stake in TG Therapeutics during the first quarter worth approximately $749,000. Cookson Peirce & Co. Inc. lifted its stake in TG Therapeutics by 16.6% during the first quarter. Cookson Peirce & Co. Inc. now owns 32,742 shares of the biopharmaceutical company's stock worth $1,291,000 after purchasing an additional 4,661 shares during the last quarter. Finally, Persistent Asset Partners Ltd lifted its stake in TG Therapeutics by 59.2% during the first quarter. Persistent Asset Partners Ltd now owns 36,072 shares of the biopharmaceutical company's stock worth $1,422,000 after purchasing an additional 13,411 shares during the last quarter. 58.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TG Therapeutics

In other news, Director Yann Echelard sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $36.94, for a total transaction of $369,400.00. Following the completion of the sale, the director owned 228,816 shares in the company, valued at $8,452,463.04. This represents a 4.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.64% of the stock is owned by company insiders.

TG Therapeutics Stock Performance

NASDAQ TGTX traded up $0.39 on Thursday, reaching $28.96. The stock had a trading volume of 1,835,058 shares, compared to its average volume of 2,477,064. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.96 and a current ratio of 3.86. TG Therapeutics, Inc. has a 12-month low of $21.11 and a 12-month high of $46.48. The business's 50-day moving average price is $33.69 and its 200 day moving average price is $35.59. The stock has a market cap of $4.59 billion, a P/E ratio of 78.27 and a beta of 1.95.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings data 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). TG Therapeutics had a net margin of 13.31% and a return on equity of 26.05%. The firm had revenue of $141.15 million during the quarter, compared to analysts' expectations of $147.76 million. During the same quarter in the prior year, the firm posted $0.04 EPS. TG Therapeutics's quarterly revenue was up 92.1% compared to the same quarter last year. TG Therapeutics has set its FY 2025 guidance at EPS. As a group, equities analysts expect that TG Therapeutics, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded TG Therapeutics to a "hold" rating and set a $37.00 target price for the company in a research note on Thursday, July 10th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.25.

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.