HC Wainwright Raises Earnings Estimates for TG Therapeutics

TG Therapeutics, Inc. (NASDAQ:TGTX - Free Report) - HC Wainwright boosted their FY2024 earnings estimates for shares of TG Therapeutics in a report issued on Wednesday, January 15th. HC Wainwright analyst E. White now expects that the biopharmaceutical company will post earnings per share of $0.13 for the year, up from their previous estimate of $0.07. HC Wainwright has a "Buy" rating and a $55.00 price objective on the stock. The consensus estimate for TG Therapeutics' current full-year earnings is $0.07 per share. HC Wainwright also issued estimates for TG Therapeutics' Q4 2024 earnings at $0.13 EPS, FY2026 earnings at $2.24 EPS and FY2027 earnings at $2.93 EPS.

Several other equities research analysts have also recently commented on the stock. StockNews.com upgraded shares of TG Therapeutics from a "sell" rating to a "hold" rating in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. TD Cowen assumed coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a "buy" rating and a $50.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.67.

TG Therapeutics Price Performance

Shares of TGTX traded up $0.41 during midday trading on Friday, reaching $29.55. The stock had a trading volume of 2,127,339 shares, compared to its average volume of 3,037,872. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91. The company has a market capitalization of $4.60 billion, a P/E ratio of -295.47 and a beta of 2.24. The firm's 50 day moving average price is $31.72 and its 200-day moving average price is $25.66. TG Therapeutics has a 52 week low of $12.84 and a 52 week high of $36.84.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The company had revenue of $83.90 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.73 EPS.

Institutional Trading of TG Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. increased its stake in TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 485 shares during the period. Blue Trust Inc. increased its stake in shares of TG Therapeutics by 127.3% in the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 849 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in shares of TG Therapeutics during the third quarter worth $53,000. Values First Advisors Inc. acquired a new stake in TG Therapeutics during the third quarter valued at $58,000. Finally, GAMMA Investing LLC grew its stake in TG Therapeutics by 562.4% in the fourth quarter. GAMMA Investing LLC now owns 2,557 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 2,171 shares in the last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Sean A. Power sold 10,021 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $28.53, for a total value of $285,899.13. Following the completion of the sale, the chief financial officer now owns 660,611 shares of the company's stock, valued at $18,847,231.83. This trade represents a 1.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total value of $152,200.00. Following the transaction, the director now owns 100,195 shares in the company, valued at $3,049,935.80. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,358 shares of company stock worth $781,497 over the last ninety days. 10.50% of the stock is currently owned by company insiders.

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.