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

TG Therapeutics, Inc. (NASDAQ:TGTX) – Research analysts at B. Riley upped their Q2 2024 earnings estimates for shares of TG Therapeutics in a report issued on Tuesday, April 30th. B. Riley analyst M. Mamtani now anticipates that the biopharmaceutical company will post earnings per share of ($0.05) for the quarter, up from their prior forecast of ($0.06). B. Riley currently has a “Buy” rating and a $29.00 target price 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’ FY2024 earnings at ($0.14) EPS and FY2025 earnings at $0.78 EPS.

TG Therapeutics (NASDAQ:TGTX) last posted its earnings results on Wednesday, February 28th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The company had revenue of $43.97 million during the quarter, compared to analysts’ expectations of $40.06 million. TG Therapeutics had a return on equity of 12.89% and a net margin of 5.42%. During the same quarter last year, the firm earned ($0.39) earnings per share.

A number of other brokerages have also recently weighed in on TGTX. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $25.00 price target on shares of TG Therapeutics in a research report on Thursday, April 18th. StockNews.com lowered TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. LADENBURG THALM/SH SH restated a “buy” rating and set a $39.00 price target on shares of TG Therapeutics in a research report on Thursday, April 18th. HC Wainwright reiterated a “buy” rating and issued a $45.00 price objective on shares of TG Therapeutics in a report on Thursday, April 18th. Finally, The Goldman Sachs Group increased their target price on TG Therapeutics from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.00.

TG Therapeutics Stock Up 16.3 %

Shares of TGTX opened at $15.88 on Thursday. The company’s 50-day moving average price is $15.07 and its 200 day moving average price is $14.32. TG Therapeutics has a 12-month low of $6.46 and a 12-month high of $35.67. The company has a current ratio of 5.92, a quick ratio of 5.18 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2.45 billion, a P/E ratio of 794.40 and a beta of 2.30.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 683 Capital Management LLC purchased a new stake in shares of TG Therapeutics during the 3rd quarter worth $11,286,000. Norges Bank acquired a new stake in TG Therapeutics in the fourth quarter valued at $18,362,000. Schonfeld Strategic Advisors LLC lifted its holdings in 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 worth $11,431,000 after buying an additional 850,507 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of TG Therapeutics by 183.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 856,837 shares of the biopharmaceutical company’s stock valued at $7,163,000 after acquiring an additional 554,309 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new stake in shares of TG Therapeutics during the 4th quarter worth about $7,506,000. Institutional investors and hedge funds own 58.58% of the company’s stock.

Insider Activity

In related news, Director Laurence N. Charney sold 22,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $15.97, for a total transaction of $351,340.00. Following the completion of the transaction, the director now directly owns 215,229 shares of the company’s stock, valued at approximately $3,437,207.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.