TG Therapeutics, Inc. (NASDAQ:TGTX) to Post Q2 2024 Earnings of ($0.05) Per Share, B. Riley Forecasts

TG Therapeutics, Inc. (NASDAQ:TGTX) – Research analysts at B. Riley upped their Q2 2024 earnings per share estimates for TG Therapeutics in a research note issued on Tuesday, April 30th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will earn ($0.05) per share for the quarter, up from their prior estimate of ($0.06). B. Riley currently has a “Buy” rating and a $29.00 target price on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is ($0.10) per share. B. Riley also issued estimates for TG Therapeutics’ FY2024 earnings at ($0.14) EPS and FY2025 earnings at $0.78 EPS.

A number of other analysts have also commented on TGTX. HC Wainwright lifted their price target on shares of TG Therapeutics from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday. LADENBURG THALM/SH SH boosted their target price on shares of TG Therapeutics from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com cut TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $25.00 price target on shares of TG Therapeutics in a report on Thursday, April 18th. Finally, The Goldman Sachs Group increased their price target on TG Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.83.

TG Therapeutics Price Performance

Shares of NASDAQ:TGTX opened at $16.19 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 5.18 and a current ratio of 5.92. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 71.30 and a beta of 2.33. The business has a 50-day simple moving average of $15.19 and a two-hundred day simple moving average of $14.34. TG Therapeutics has a fifty-two week low of $6.46 and a fifty-two week high of $35.67.

TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). TG Therapeutics had a return on equity of 33.79% and a net margin of 14.24%. The company had revenue of $63.47 million during the quarter, compared to analysts’ expectations of $54.60 million. During the same period in the prior year, the company posted ($0.28) earnings per share. The company’s revenue was up 713.5% on a year-over-year basis.

Hedge Funds Weigh In On TG Therapeutics

A number of institutional investors have recently bought and sold shares of TGTX. 683 Capital Management LLC bought a new position in TG Therapeutics in the 3rd quarter worth $11,286,000. Norges Bank purchased a new stake in TG Therapeutics in the 4th quarter worth $18,362,000. Schonfeld Strategic Advisors LLC increased its stake in TG Therapeutics by 164.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,367,400 shares of the biopharmaceutical company’s stock worth $11,431,000 after buying an additional 850,507 shares in the last quarter. Rafferty Asset Management LLC increased its stake in TG Therapeutics by 183.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 856,837 shares of the biopharmaceutical company’s stock worth $7,163,000 after buying an additional 554,309 shares in the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in TG Therapeutics in the 4th quarter worth $7,506,000. 58.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Laurence N. Charney sold 22,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $15.97, for a total value of $351,340.00. Following the transaction, the director now directly owns 215,229 shares of the company’s stock, valued at approximately $3,437,207.13. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.20% of the stock is owned by 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.