TG Therapeutics (NASDAQ:TGTX) Posts Earnings Results, Misses Expectations By $0.26 EPS

TG Therapeutics (NASDAQ:TGTX) released its quarterly earnings data on Monday. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26), Briefing.com reports. TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. During the same period last year, the firm earned $0.17 earnings per share. TG Therapeutics’s revenue for the quarter was up 70.2% compared to the same quarter last year.

TG Therapeutics Stock Performance

TG Therapeutics stock opened at $49.89 on Monday. The business has a 50 day moving average of $50.48 and a 200-day moving average of $38.94. The company has a market capitalization of $7.64 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.30 and a beta of 1.62. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $59.30. The company has a debt-to-equity ratio of 1.28, a current ratio of 5.81 and a quick ratio of 5.12.

Institutional Trading of TG Therapeutics

Institutional investors have recently bought and sold shares of the company. Maryland State Retirement & Pension System raised its stake in TG Therapeutics by 2.0% during the 4th quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock worth $593,000 after buying an additional 393 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TG Therapeutics by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after buying an additional 441 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in TG Therapeutics by 16.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 454 shares in the last quarter. Lido Advisors LLC raised its position in TG Therapeutics by 3.9% in the 3rd quarter. Lido Advisors LLC now owns 14,276 shares of the biopharmaceutical company’s stock valued at $516,000 after buying an additional 541 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in TG Therapeutics by 86.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 573 shares in the last quarter. Institutional investors own 58.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TGTX. Zacks Research upgraded TG Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Bank of America lifted their price objective on shares of TG Therapeutics from $17.00 to $20.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of TG Therapeutics in a research report on Wednesday. HC Wainwright raised their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $83.00 target price on shares of TG Therapeutics in a report on Monday, June 22nd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, TG Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $58.50.

TG Therapeutics Company Profile

TG Therapeutics, Inc is a clinical?stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small?molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.

In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.