HC Wainwright Research Analysts Boost Earnings Estimates for TG Therapeutics, Inc. (NASDAQ:TGTX)

TG Therapeutics, Inc. (NASDAQ:TGTX) – Equities researchers at HC Wainwright lifted their FY2023 earnings per share (EPS) estimates for shares of TG Therapeutics in a research report issued to clients and investors on Thursday, November 2nd. HC Wainwright analyst E. White now expects that the biopharmaceutical company will earn $0.07 per share for the year, up from their prior forecast of ($1.13). HC Wainwright has a “Buy” rating and a $41.00 price objective on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is ($0.73) per share. HC Wainwright also issued estimates for TG Therapeutics’ Q4 2023 earnings at ($0.12) EPS, FY2024 earnings at ($0.02) EPS and FY2025 earnings at $0.70 EPS.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Wednesday, November 1st. The biopharmaceutical company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.44. TG Therapeutics had a negative return on equity of 61.45% and a negative net margin of 13.65%. The business had revenue of $165.80 million during the quarter, compared to analyst estimates of $23.91 million. During the same quarter in the prior year, the company posted ($0.26) EPS. TG Therapeutics’s quarterly revenue was up 17538.3% compared to the same quarter last year.

Several other research analysts have also issued reports on TGTX. The Goldman Sachs Group raised TG Therapeutics from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $12.00 in a research report on Wednesday, August 2nd. B. Riley decreased their target price on TG Therapeutics from $32.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, October 20th. Jefferies Financial Group reissued a “buy” rating and issued a $23.00 target price on shares of TG Therapeutics in a research report on Wednesday, November 1st. JPMorgan Chase & Co. increased their target price on TG Therapeutics from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, StockNews.com raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

TG Therapeutics Stock Up 6.2 %

Shares of NASDAQ:TGTX opened at $11.06 on Monday. TG Therapeutics has a 52-week low of $5.16 and a 52-week high of $35.67. The firm has a market capitalization of $1.67 billion, a P/E ratio of -39.50 and a beta of 2.10. The stock has a 50 day moving average price of $8.79 and a 200-day moving average price of $17.80. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.45 and a current ratio of 2.87.

Institutional Investors Weigh In On TG Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of TG Therapeutics by 13.3% during the third quarter. Vanguard Group Inc. now owns 14,746,392 shares of the biopharmaceutical company’s stock valued at $87,299,000 after buying an additional 1,725,560 shares during the last quarter. State Street Corp grew its stake in shares of TG Therapeutics by 47.8% during the second quarter. State Street Corp now owns 14,235,263 shares of the biopharmaceutical company’s stock valued at $60,500,000 after buying an additional 4,606,679 shares during the last quarter. Darwin Global Management Ltd. bought a new position in TG Therapeutics in the first quarter worth approximately $157,187,000. BlackRock Inc. grew its stake in TG Therapeutics by 12.1% in the second quarter. BlackRock Inc. now owns 9,917,463 shares of the biopharmaceutical company’s stock worth $246,350,000 after purchasing an additional 1,067,763 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in TG Therapeutics by 5.6% in the second quarter. Geode Capital Management LLC now owns 2,830,589 shares of the biopharmaceutical company’s stock worth $70,312,000 after purchasing an additional 150,789 shares in the last quarter. 57.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael S. Weiss bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $10.13 per share, for a total transaction of $1,013,000.00. Following the completion of the transaction, the chief executive officer now owns 12,073,021 shares of the company’s stock, valued at $122,299,702.73. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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 diseases. 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.