TG Therapeutics FY2024 EPS Forecast Boosted by HC Wainwright

TG Therapeutics, Inc. (NASDAQ:TGTX) – Investment analysts at HC Wainwright increased their FY2024 earnings estimates for TG Therapeutics in a report issued on Wednesday, January 15th. HC Wainwright analyst E. White now expects that the biopharmaceutical company will earn $0.13 per share for the year, up from their prior estimate of $0.07. HC Wainwright currently has a “Buy” rating and a $55.00 price target on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is $0.07 per share. HC Wainwright also issued estimates for TG Therapeutics’ Q4 2024 earnings at $0.13 EPS, FY2026 earnings at $2.24 EPS and FY2027 earnings at $2.93 EPS.

TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings data 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). The firm had revenue of $83.90 million for the quarter, compared to analysts’ expectations of $81.68 million. TG Therapeutics had a negative return on equity of 8.32% and a negative net margin of 5.42%. TG Therapeutics’s revenue for the quarter was down 49.4% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share.

Other equities research analysts have also issued research reports about the company. TD Cowen began coverage on TG Therapeutics in a research report on Tuesday, October 29th. They set a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group raised their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $30.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

TG Therapeutics Stock Down 3.4 %

Shares of NASDAQ TGTX opened at $29.14 on Friday. The business has a 50-day moving average of $31.72 and a two-hundred day moving average of $25.66. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -291.37 and a beta of 2.24. TG Therapeutics has a 1 year low of $12.84 and a 1 year high of $36.84. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.59 and a quick ratio of 3.91.

Insider Buying and Selling at TG Therapeutics

In other TG Therapeutics news, CFO Sean A. Power sold 10,021 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $28.53, for a total transaction of $285,899.13. Following the transaction, the chief financial officer now directly owns 660,611 shares of the company’s stock, valued at approximately $18,847,231.83. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sagar Lonial sold 5,000 shares of TG Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.44, for a total transaction of $152,200.00. Following the completion of the transaction, the director now owns 100,195 shares in the company, valued at approximately $3,049,935.80. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,358 shares of company stock worth $781,497. 10.50% of the stock is owned by insiders.

Institutional Investors Weigh In On TG Therapeutics

Hedge funds have recently made changes to their positions in the business. NBC Securities Inc. raised its stake in TG Therapeutics by 58.9% during 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. Quarry LP raised its stake in shares of TG Therapeutics by 9.1% during the second quarter. Quarry LP now owns 6,003 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 503 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of TG Therapeutics by 3.9% during the third quarter. Private Advisor Group LLC now owns 14,407 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 542 shares during the period. Brookstone Capital Management grew its position in TG Therapeutics by 3.7% in the 4th quarter. Brookstone Capital Management now owns 17,521 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 624 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in TG Therapeutics by 127.3% in the 3rd quarter. Blue Trust Inc. now owns 1,516 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 849 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.

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.