FY2024 EPS Estimates for TG Therapeutics Lowered by Analyst

TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) - Equities researchers at HC Wainwright cut their FY2024 earnings per share (EPS) estimates for shares of TG Therapeutics in a research note issued to investors on Monday, November 4th. HC Wainwright analyst E. White now forecasts that the biopharmaceutical company will post earnings of $0.07 per share for the year, down from their previous forecast of $0.12. HC Wainwright currently has a "Buy" rating and a $55.00 target price on the stock. The consensus estimate for TG Therapeutics' current full-year earnings is $0.13 per share. HC Wainwright also issued estimates for TG Therapeutics' FY2025 earnings at $1.17 EPS and FY2026 earnings at $1.77 EPS.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). TG Therapeutics had a return on equity of 57.73% and a net margin of 27.60%. The firm had revenue of $83.90 million for the quarter, compared to analyst estimates of $81.68 million. During the same quarter in the prior year, the business earned $0.73 EPS. The firm's quarterly revenue was down 49.4% on a year-over-year basis.

TGTX has been the topic of several other reports. B. Riley boosted their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, TD Cowen began coverage on shares of TG Therapeutics in a report on Tuesday, October 29th. They issued a "buy" rating and a $50.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, TG Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $37.67.

TG Therapeutics Trading Up 2.7 %

TGTX stock traded up $0.73 during midday trading on Thursday, hitting $27.90. 2,836,225 shares of the company's stock were exchanged, compared to its average volume of 3,647,209. TG Therapeutics has a 1-year low of $9.81 and a 1-year high of $28.41. The company has a current ratio of 3.58, a quick ratio of 2.83 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $4.32 billion, a PE ratio of -271.70 and a beta of 2.19. The business has a 50-day simple moving average of $23.65 and a two-hundred day simple moving average of $20.30.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGTX. Swiss National Bank raised its stake in shares of TG Therapeutics by 0.5% in the first quarter. Swiss National Bank now owns 284,100 shares of the biopharmaceutical company's stock valued at $4,321,000 after acquiring an additional 1,500 shares in the last quarter. Quantum Private Wealth LLC boosted its stake in shares of TG Therapeutics by 13.7% in the 1st quarter. Quantum Private Wealth LLC now owns 103,604 shares of the biopharmaceutical company's stock valued at $1,576,000 after buying an additional 12,523 shares during the period. Sei Investments Co. purchased a new position in shares of TG Therapeutics in the 1st quarter valued at about $591,000. Russell Investments Group Ltd. grew its position in shares of TG Therapeutics by 133.5% during the first quarter. Russell Investments Group Ltd. now owns 52,339 shares of the biopharmaceutical company's stock worth $796,000 after buying an additional 29,923 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of TG Therapeutics by 8.5% during the first quarter. ProShare Advisors LLC now owns 24,914 shares of the biopharmaceutical company's stock worth $379,000 after buying an additional 1,961 shares during the period. Hedge funds and other institutional investors own 58.58% of the company's stock.

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.