Prospera Financial Services Inc Decreases Stake in TG Therapeutics, Inc. (NASDAQ:TGTX)

Prospera Financial Services Inc trimmed its holdings in shares of TG Therapeutics, Inc. (NASDAQ:TGTX) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,713 shares of the biopharmaceutical company’s stock after selling 2,712 shares during the quarter. Prospera Financial Services Inc’s holdings in TG Therapeutics were worth $835,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Marshall Wace LLP purchased a new position in TG Therapeutics in the second quarter valued at about $36,501,000. Principal Financial Group Inc. boosted its holdings in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock valued at $18,061,000 after purchasing an additional 725,371 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in TG Therapeutics in the second quarter valued at about $10,423,000. Assenagon Asset Management S.A. purchased a new position in TG Therapeutics in the second quarter valued at about $8,698,000. Finally, Point72 Europe London LLP bought a new position in TG Therapeutics during the 2nd quarter worth approximately $2,860,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Insider Activity at TG Therapeutics

In related news, Director Sagar Lonial sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.44, for a total value of $152,200.00. Following the sale, the director now directly owns 100,195 shares in the company, valued at $3,049,935.80. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is owned by insiders.

TG Therapeutics Trading Up 1.5 %

Shares of NASDAQ TGTX opened at $35.07 on Friday. The company has a market cap of $5.46 billion, a price-to-earnings ratio of -350.70 and a beta of 2.19. TG Therapeutics, Inc. has a 12-month low of $12.30 and a 12-month high of $36.50. 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 stock’s 50 day simple moving average is $25.62 and its 200 day simple moving average is $21.64.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. The company’s revenue for the quarter was down 49.4% on a year-over-year basis. During the same period last year, the business posted $0.73 EPS. Equities research analysts expect that TG Therapeutics, Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

TGTX has been the topic of a number of research analyst reports. HC Wainwright increased their target price on TG Therapeutics from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group increased their target price on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. TD Cowen initiated coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price on the stock. Finally, B. Riley increased their target price on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

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.