TG Therapeutics, Inc. (NASDAQ:TGTX) to Post Q2 2024 Earnings of ($0.04) Per Share, B. Riley Forecasts

TG Therapeutics, Inc. (NASDAQ:TGTX) – Equities research analysts at B. Riley increased their Q2 2024 earnings estimates for TG Therapeutics in a report issued on Wednesday, May 1st. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will earn ($0.04) per share for the quarter, up from their prior estimate of ($0.05). B. Riley has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is ($0.11) per share. B. Riley also issued estimates for TG Therapeutics’ Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at ($0.10) EPS.

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

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $25.00 price target on shares of TG Therapeutics in a research note on Thursday, April 18th. LADENBURG THALM/SH SH boosted their price objective on TG Therapeutics from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. HC Wainwright upped their price objective on TG Therapeutics from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group lifted their target price on TG Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a research note 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

TG Therapeutics Trading Down 1.4 %

Shares of NASDAQ:TGTX opened at $16.19 on Monday. The stock has a 50 day moving average of $15.25 and a 200 day moving average of $14.46. The company has a market cap of $2.50 billion, a PE ratio of 70.39 and a beta of 2.33. TG Therapeutics has a 12-month low of $6.46 and a 12-month high of $35.67. The company has a current ratio of 5.92, a quick ratio of 5.18 and a debt-to-equity ratio of 0.62.

Institutional Trading of TG Therapeutics

Several hedge funds have recently made changes to their positions in the business. Pingora Partners LLC bought a new stake in TG Therapeutics during the fourth quarter worth approximately $27,000. PNC Financial Services Group Inc. raised its holdings in TG Therapeutics by 131.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,543 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 2,014 shares during the period. Anchor Investment Management LLC bought a new stake in TG Therapeutics in the fourth quarter worth $80,000. NBC Securities Inc. purchased a new stake in shares of TG Therapeutics in the third quarter valued at $58,000. Finally, REDW Wealth LLC purchased a new stake in shares of TG Therapeutics in the third quarter valued at $84,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TG Therapeutics

In other news, Director Laurence N. Charney sold 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $15.97, for a total transaction of $351,340.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.20% 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.