TG Therapeutics FY2024 EPS Forecast Reduced by HC Wainwright

TG Therapeutics, Inc. (NASDAQ:TGTX) – Equities researchers at HC Wainwright reduced their FY2024 earnings estimates for TG Therapeutics in a research report issued on Monday, November 4th. HC Wainwright analyst E. White now expects that the biopharmaceutical company will post earnings per share of $0.07 for the year, down from their prior estimate of $0.12. HC Wainwright currently 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.

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 negative return on equity of 8.65% and a negative net margin of 5.42%. The company had revenue of $83.90 million during the quarter, compared to analysts’ expectations of $81.68 million. During the same period in the prior year, the firm earned $0.73 EPS. TG Therapeutics’s revenue for the quarter was down 49.4% compared to the same quarter last year.

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

TG Therapeutics Trading Up 3.3 %

NASDAQ:TGTX opened at $28.81 on Thursday. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of -288.07 and a beta of 2.19. 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 company’s 50 day moving average price is $23.84 and its 200-day moving average price is $20.46. TG Therapeutics has a 52 week low of $9.81 and a 52 week high of $28.92.

Institutional Trading of TG Therapeutics

Several hedge funds have recently bought and sold shares of TGTX. NBC Securities Inc. increased its holdings in TG Therapeutics by 58.9% in the 3rd quarter. NBC Securities Inc. now owns 1,309 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 485 shares during the last quarter. Blue Trust Inc. raised its stake in TG Therapeutics by 127.3% during the third quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 849 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of TG Therapeutics in the 2nd quarter worth $35,000. ORG Wealth Partners LLC purchased a new stake in TG Therapeutics during the third quarter valued at approximately $53,000. Finally, Values First Advisors Inc. bought a new stake in TG Therapeutics in the third quarter worth $58,000. Institutional investors own 58.58% 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.