HC Wainwright Issues Positive Forecast for TG Therapeutics (NASDAQ:TGTX) Stock Price

TG Therapeutics (NASDAQ:TGTX) had its target price raised by HC Wainwright from $49.00 to $55.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for TG Therapeutics’ Q4 2024 earnings at $0.15 EPS, FY2024 earnings at $0.07 EPS, FY2025 earnings at $1.17 EPS and FY2026 earnings at $1.77 EPS.

Several other research firms have also commented on TGTX. TD Cowen initiated coverage on TG Therapeutics in a report on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group upped their target price on TG Therapeutics from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, B. Riley upped their target price on TG Therapeutics from $29.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

TG Therapeutics Stock Up 2.7 %

Shares of TG Therapeutics stock opened at $27.90 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 3.58 and a debt-to-equity ratio of 0.58. The firm has a market cap of $4.32 billion, a P/E ratio of -278.97 and a beta of 2.19. TG Therapeutics has a fifty-two week low of $9.81 and a fifty-two week high of $28.41. The business has a 50-day moving average price of $23.73 and a 200 day moving average price of $20.36.

TG Therapeutics (NASDAQ:TGTX) last announced its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. TG Therapeutics had a negative net margin of 5.42% and a negative return on equity of 8.65%. The firm’s quarterly revenue was down 49.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, sell-side analysts forecast that TG Therapeutics will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Opaleye Management Inc. boosted its position in shares of TG Therapeutics by 2.9% during the first quarter. Opaleye Management Inc. now owns 2,280,000 shares of the biopharmaceutical company’s stock worth $34,679,000 after buying an additional 65,000 shares during the period. Marshall Wace LLP acquired a new stake in TG Therapeutics in the second quarter worth approximately $36,501,000. Hood River Capital Management LLC lifted its position in TG Therapeutics by 6.7% in the second quarter. Hood River Capital Management LLC now owns 1,572,929 shares of the biopharmaceutical company’s stock worth $27,982,000 after purchasing an additional 98,892 shares during the period. Principal Financial Group Inc. lifted its position in TG Therapeutics by 1,549.4% in the third quarter. Principal Financial Group Inc. now owns 772,188 shares of the biopharmaceutical company’s stock worth $18,061,000 after purchasing an additional 725,371 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in TG Therapeutics in the second quarter worth approximately $10,423,000. 58.58% of the stock is currently owned by institutional investors and hedge funds.

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.