TG Therapeutics, Inc. Forecasted to Earn Q2 2023 Earnings of ($0.27) Per Share (NASDAQ:TGTX)

Posted by on May 5th, 2023

TG Therapeutics, Inc. (NASDAQ:TGTX – Get Rating) – Equities research analysts at HC Wainwright cut their Q2 2023 earnings estimates for TG Therapeutics in a report released on Monday, May 1st. HC Wainwright analyst E. White now expects that the biopharmaceutical company will post earnings per share of ($0.27) for the quarter, down from their previous forecast of ($0.23). HC Wainwright has a “Buy” rating and a $28.00 price target on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is ($1.16) per share. HC Wainwright also issued estimates for TG Therapeutics’ Q3 2023 earnings at ($0.24) EPS, Q4 2023 earnings at ($0.20) EPS, FY2023 earnings at ($1.00) EPS, FY2024 earnings at ($0.46) EPS and FY2025 earnings at $0.23 EPS.

Several other brokerages have also issued reports on TGTX. StockNews.com raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $24.00 price target on shares of TG Therapeutics in a report on Monday, April 17th. Finally, Evercore ISI lifted their price target on shares of TG Therapeutics from $16.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, January 24th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.67.

TG Therapeutics Stock Performance

Shares of TGTX stock opened at $35.00 on Thursday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -23.97 and a beta of 2.07. The company’s 50 day moving average is $18.72 and its 200 day moving average is $13.45. The company has a quick ratio of 3.16, a current ratio of 3.16 and a debt-to-equity ratio of 1.21. TG Therapeutics has a 52-week low of $3.48 and a 52-week high of $35.67.

TG Therapeutics (NASDAQ:TGTX – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.08. The company had revenue of $7.80 million for the quarter, compared to analyst estimates of $3.38 million. TG Therapeutics had a negative net margin of 7,124.10% and a negative return on equity of 173.03%. The firm’s revenue was up 290.0% on a year-over-year basis.

Hedge Funds Weigh In On TG Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its position in shares of TG Therapeutics by 11.3% in the 1st quarter. Barclays PLC now owns 790,093 shares of the biopharmaceutical company’s stock valued at $11,883,000 after acquiring an additional 80,025 shares during the period. Beacon Investment Advisory Services Inc. acquired a new stake in shares of TG Therapeutics during the first quarter worth about $150,000. Mirae Asset Global Investments Co. Ltd. raised its position in TG Therapeutics by 31.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,330 shares of the biopharmaceutical company’s stock worth $1,148,000 after buying an additional 18,304 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in TG Therapeutics by 24.4% during the 1st quarter. J.W. Cole Advisors Inc. now owns 18,659 shares of the biopharmaceutical company’s stock valued at $281,000 after acquiring an additional 3,659 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of TG Therapeutics by 40.7% in the first quarter. Nisa Investment Advisors LLC now owns 106,280 shares of the biopharmaceutical company’s stock worth $1,598,000 after acquiring an additional 30,760 shares during the period. 68.06% of the stock is owned by hedge funds and other institutional investors.

TG Therapeutics Company Profile

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TG Therapeutics, Inc engages in the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its product pipeline includes TG-1501, TG-1701, Ublituximab, and Umbralisib. The company was founded by Michael Sean Weiss and Laurence H. Shaw on May 18, 1993 and is headquartered in Morrisville, NC.

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Earnings History and Estimates for TG Therapeutics (NASDAQ:TGTX)

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