FY2024 EPS Estimates for TG Therapeutics Lowered by Analyst

TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) - B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of TG Therapeutics in a note issued to investors on Monday, November 4th. B. Riley analyst M. Mamtani now expects that the biopharmaceutical company will post earnings per share of $0.04 for the year, down from their prior forecast of $0.05. B. Riley currently has a "Buy" rating and a $34.00 target price on the stock. The consensus estimate for TG Therapeutics' current full-year earnings is $0.13 per share. B. Riley also issued estimates for TG Therapeutics' Q4 2024 earnings at $0.06 EPS and FY2025 earnings at $0.94 EPS.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted 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 analysts' expectations of $81.68 million. TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The business's quarterly revenue was down 49.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share.

TGTX has been the subject of several other research reports. TD Cowen initiated coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They issued a "buy" rating and a $50.00 price target for the company. HC Wainwright boosted their price objective on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday. Finally, The Goldman Sachs Group lifted their price target on shares of TG Therapeutics from $20.00 to $22.00 and gave the company a "neutral" rating in a research report on Tuesday. 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.67.

TG Therapeutics Trading Up 5.1 %

NASDAQ TGTX traded up $1.31 on Wednesday, reaching $27.17. 4,139,878 shares of the company were exchanged, compared to its average volume of 3,650,948. TG Therapeutics has a fifty-two week low of $9.81 and a fifty-two week high of $27.67. The stock has a market capitalization of $4.21 billion, a P/E ratio of -258.60 and a beta of 2.19. The business's fifty day moving average price is $23.57 and its 200 day moving average price is $20.26. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58.

Institutional Trading of TG Therapeutics

A number of hedge funds have recently bought and sold shares of TGTX. Assenagon Asset Management S.A. acquired a new stake in shares of TG Therapeutics during the second quarter valued at about $8,698,000. Marshall Wace LLP acquired a new position in shares of TG Therapeutics in the 2nd quarter valued at approximately $36,501,000. Raymond James & Associates boosted its stake in shares of TG Therapeutics by 35.9% during the 3rd quarter. Raymond James & Associates now owns 170,160 shares of the biopharmaceutical company's stock valued at $3,980,000 after buying an additional 44,972 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of TG Therapeutics by 13.4% during the second quarter. Bank of New York Mellon Corp now owns 503,645 shares of the biopharmaceutical company's stock worth $8,960,000 after buying an additional 59,523 shares in the last quarter. Finally, Cetera Advisors LLC bought a new stake in shares of TG Therapeutics in the first quarter worth $622,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Company 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.