HC Wainwright Lowers Earnings Estimates for TG Therapeutics

TG Therapeutics, Inc. (NASDAQ:TGTX) – Equities research analysts at HC Wainwright dropped their FY2024 earnings per share estimates for TG Therapeutics in a research note issued 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 prior forecast of $0.12. HC Wainwright currently has a “Buy” rating and a $55.00 price objective on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is $0.13 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) last announced its 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). The business had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.65% and a negative net margin of 5.42%. The firm’s revenue was down 49.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.73 earnings per share.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group lifted their target price on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen started coverage on TG Therapeutics in a research note on Tuesday, October 29th. They issued a “buy” rating and a $50.00 target price for the company. Finally, B. Riley lifted their target price on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

TG Therapeutics Stock Up 2.7 %

Shares of TG Therapeutics stock opened at $27.90 on Thursday. The company has a quick ratio of 2.83, a current ratio of 3.58 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.32 billion, a P/E ratio of -278.97 and a beta of 2.19. TG Therapeutics has a fifty-two week low of $9.81 and a fifty-two week high of $28.41. The business has a 50-day moving average price of $23.73 and a 200 day moving average price of $20.36.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. boosted its position in shares of TG Therapeutics by 58.9% during the third quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 485 shares during the period. Quarry LP lifted its position in TG Therapeutics by 9.1% in the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 503 shares during the period. Private Advisor Group LLC lifted its position in TG Therapeutics by 3.9% in the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 542 shares during the period. Blue Trust Inc. lifted its position in 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 purchasing an additional 849 shares during the period. Finally, KBC Group NV lifted its position in TG Therapeutics by 30.5% in the third quarter. KBC Group NV now owns 4,675 shares of the biopharmaceutical company’s stock worth $109,000 after purchasing an additional 1,092 shares during the period. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.