Synovus Financial Corp Makes New Investment in TG Therapeutics, Inc. (NASDAQ:TGTX)

Synovus Financial Corp acquired a new position in TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,900 shares of the biopharmaceutical company's stock, valued at approximately $465,000.

Several other institutional investors have also added to or reduced their stakes in TGTX. Oppenheimer & Co. Inc. bought a new stake in TG Therapeutics during the third quarter valued at $759,000. Segall Bryant & Hamill LLC acquired a new position in shares of TG Therapeutics in the 3rd quarter valued at about $1,225,000. Principal Financial Group Inc. boosted its position in shares of 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 purchasing an additional 725,371 shares in the last quarter. Barclays PLC grew its stake in TG Therapeutics by 83.9% during the third quarter. Barclays PLC now owns 347,057 shares of the biopharmaceutical company's stock worth $8,117,000 after purchasing an additional 158,323 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in TG Therapeutics in the third quarter worth approximately $2,358,000. 58.58% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Sagar Lonial sold 5,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the transaction, the director now directly owns 100,195 shares in the company, valued at approximately $3,049,935.80. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.50% of the company's stock.

TG Therapeutics Stock Down 0.4 %

TGTX traded down $0.12 during trading on Thursday, hitting $30.95. 1,982,969 shares of the company's stock were exchanged, compared to its average volume of 3,589,588. TG Therapeutics, Inc. has a fifty-two week low of $12.84 and a fifty-two week high of $36.84. The stock has a market cap of $4.82 billion, a P/E ratio of -309.47 and a beta of 2.25. The business's 50 day moving average is $29.42 and its two-hundred day moving average is $23.79. 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 (NASDAQ:TGTX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.32%. TG Therapeutics's revenue was down 49.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. As a group, equities analysts expect that TG Therapeutics, Inc. will post 0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TGTX has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. HC Wainwright increased their target price on shares of TG Therapeutics from $49.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. TD Cowen began coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They set a "buy" rating and a $50.00 price objective on the stock. Finally, StockNews.com raised shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, December 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TG Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target 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.