Q2 2024 EPS Estimates for TG Therapeutics, Inc. (NASDAQ:TGTX) Lifted by B. Riley

TG Therapeutics, Inc. (NASDAQ:TGTX) – Analysts at B. Riley upped their Q2 2024 earnings estimates for TG Therapeutics in a report issued on Wednesday, May 1st. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings per share of ($0.04) for the quarter, up from their prior estimate of ($0.05). B. Riley has a “Buy” rating and a $29.00 price target 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 issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $54.60 million. During the same quarter in the previous year, the business earned ($0.28) EPS. The company’s revenue for the quarter was up 713.5% on a year-over-year basis.

Several other research analysts also recently weighed in on TGTX. The Goldman Sachs Group increased their price target on TG Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. LADENBURG THALM/SH SH increased their target price on shares of TG Therapeutics from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. HC Wainwright lifted their target price on shares of TG Therapeutics from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com cut shares of TG Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 24th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $25.00 price objective on shares of TG Therapeutics in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TG Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

TG Therapeutics Stock Performance

NASDAQ:TGTX opened at $17.18 on Monday. The company has a market capitalization of $2.65 billion, a P/E ratio of 74.70 and a beta of 2.33. The business has a fifty day simple moving average of $15.38 and a two-hundred day simple moving average of $14.66. The company has a debt-to-equity ratio of 0.62, a current ratio of 5.92 and a quick ratio of 5.18. TG Therapeutics has a 1 year low of $6.46 and a 1 year high of $35.22.

Institutional Trading of TG Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of TG Therapeutics by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,670,944 shares of the biopharmaceutical company’s stock worth $233,500,000 after purchasing an additional 199,770 shares during the period. Wellington Management Group LLP increased its stake in TG Therapeutics by 1.4% in the 4th quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock worth $53,627,000 after acquiring an additional 43,290 shares during the last quarter. Opaleye Management Inc. raised its holdings in shares of TG Therapeutics by 17.2% in the 4th quarter. Opaleye Management Inc. now owns 2,215,000 shares of the biopharmaceutical company’s stock valued at $37,832,000 after acquiring an additional 325,000 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its position in shares of TG Therapeutics by 164.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,367,400 shares of the biopharmaceutical company’s stock valued at $11,431,000 after acquiring an additional 850,507 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of TG Therapeutics during the third quarter worth about $11,286,000. 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 firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $15.97, for a total value of $351,340.00. Following the completion of the transaction, the director now directly owns 215,229 shares in the company, valued at $3,437,207.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.20% 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.