FY2024 EPS Estimates for TG Therapeutics Lowered by Analyst

TG Therapeutics, Inc. (NASDAQ:TGTX) – Equities researchers at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for TG Therapeutics in a note issued to investors on Monday, November 4th. HC Wainwright analyst E. White now anticipates that the biopharmaceutical company will earn $0.07 per share for the year, down from their previous estimate of $0.12. 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 $0.13 per share. HC Wainwright also issued estimates for TG Therapeutics’ FY2025 earnings at $1.17 EPS and FY2026 earnings at $1.77 EPS.

Other equities analysts also recently issued research reports about the company. B. Riley lifted their price target on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. 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 report on Tuesday. Finally, TD Cowen started coverage on TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TG Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

TG Therapeutics Stock Up 5.1 %

Shares of NASDAQ TGTX opened at $27.17 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. TG Therapeutics has a 1 year low of $9.81 and a 1 year high of $27.67. The stock has a market capitalization of $4.21 billion, a P/E ratio of -271.70 and a beta of 2.19. The company has a 50-day moving average price of $23.65 and a 200-day moving average price of $20.30.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The business had revenue of $83.90 million during the quarter, compared to analyst estimates of $81.68 million. During the same period in the previous year, the business posted $0.73 EPS. The business’s revenue for the quarter was down 49.4% compared to the same quarter last year.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors have recently modified their holdings of TGTX. NBC Securities Inc. boosted its position in TG Therapeutics by 58.9% in the third quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 485 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of TG Therapeutics during the 2nd quarter worth approximately $35,000. Blue Trust Inc. raised its holdings in shares of TG Therapeutics by 127.3% in the 3rd 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. ORG Wealth Partners LLC purchased a new position in TG Therapeutics in the third quarter valued at approximately $53,000. Finally, DekaBank Deutsche Girozentrale bought a new position in TG Therapeutics during the first quarter valued at $58,000. 58.58% of the stock is owned by institutional investors.

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.