FY2024 EPS Estimates for TG Therapeutics Boosted by Analyst

TG Therapeutics, Inc. (NASDAQ:TGTX) – Stock analysts at Cantor Fitzgerald lifted their FY2024 earnings estimates for shares of TG Therapeutics in a research report issued to clients and investors on Tuesday, November 5th. Cantor Fitzgerald analyst P. Agrawal now expects that the biopharmaceutical company will post earnings per share of $0.10 for the year, up from their prior estimate of ($0.03). The consensus estimate for TG Therapeutics’ current full-year earnings is $0.13 per share.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a negative return on equity of 8.65% and a negative net margin of 5.42%. The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was down 49.4% compared to the same quarter last year.

A number of other research analysts also recently commented on TGTX. TD Cowen started coverage on shares of TG Therapeutics in a research note on Tuesday, October 29th. They set a “buy” rating and a $50.00 price objective on the stock. The Goldman Sachs Group lifted their price target on TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday. HC Wainwright upped their price objective on TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, B. Riley lifted their target price on TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, TG Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $37.67.

TG Therapeutics Stock Performance

TG Therapeutics stock opened at $28.81 on Friday. TG Therapeutics has a 52 week low of $9.81 and a 52 week high of $28.92. 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 cap of $4.46 billion, a P/E ratio of -288.07 and a beta of 2.19. The stock has a 50 day moving average of $23.84 and a 200-day moving average of $20.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGTX. Segall Bryant & Hamill LLC acquired a new position in shares of TG Therapeutics during the third quarter valued at $1,225,000. Quest Partners LLC acquired a new position in TG Therapeutics during the 3rd quarter valued at about $246,000. Thrivent Financial for Lutherans bought a new position in TG Therapeutics in the 3rd quarter worth about $2,450,000. Mutual of America Capital Management LLC acquired a new stake in shares of TG Therapeutics in the third quarter valued at approximately $469,000. Finally, Empowered Funds LLC raised its holdings in shares of TG Therapeutics by 3.1% during the third quarter. Empowered Funds LLC now owns 46,431 shares of the biopharmaceutical company’s stock valued at $1,086,000 after buying an additional 1,386 shares during the last quarter. Institutional investors and hedge funds 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.