Research Analysts Issue Forecasts for TG Therapeutics, Inc.’s Q3 2023 Earnings (NASDAQ:TGTX)

Posted by Defense World Staff on Aug 5th, 2023

TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) – Analysts at HC Wainwright increased their Q3 2023 earnings per share (EPS) estimates for shares of TG Therapeutics in a research report issued on Tuesday, August 1st. HC Wainwright analyst E. White now anticipates that the biopharmaceutical company will post earnings per share of ($0.19) for the quarter, up from their prior estimate of ($0.24). HC Wainwright currently has a “Buy” rating and a $41.00 target price on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is ($0.77) per share. HC Wainwright also issued estimates for TG Therapeutics’ Q4 2023 earnings at ($0.15) EPS, FY2023 earnings at ($0.83) EPS, FY2024 earnings at ($0.02) EPS and FY2025 earnings at $0.91 EPS.

A number of other research analysts have also recently issued reports on the company. StockNews.com upgraded TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group upgraded shares of TG Therapeutics from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $12.00 in a research note on Wednesday. B. Riley restated a “buy” rating and issued a $32.00 price objective (down from $42.00) on shares of TG Therapeutics in a report on Tuesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 price target on shares of TG Therapeutics in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.33.

TG Therapeutics Price Performance

Shares of NASDAQ TGTX opened at $10.71 on Friday. The company has a 50 day simple moving average of $22.98 and a two-hundred day simple moving average of $21.04. TG Therapeutics has a fifty-two week low of $4.86 and a fifty-two week high of $35.67. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -8.43 and a beta of 2.02. The company has a debt-to-equity ratio of 3.52, a quick ratio of 2.50 and a current ratio of 2.93.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The firm had revenue of $16.07 million during the quarter, compared to analysts’ expectations of $17.39 million. TG Therapeutics had a negative net margin of 730.34% and a negative return on equity of 282.55%. The company’s revenue for the quarter was up 2606.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) EPS.

Insiders Place Their Bets

In other news, Director Sagar Lonial sold 34,854 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the transaction, the director now directly owns 93,878 shares of the company’s stock, valued at $2,193,928.86. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Sean A. Power sold 73,647 shares of TG Therapeutics stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $26.70, for a total transaction of $1,966,374.90. Following the completion of the sale, the chief financial officer now directly owns 654,836 shares in the company, valued at $17,484,121.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sagar Lonial sold 34,854 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $23.37, for a total transaction of $814,537.98. Following the transaction, the director now owns 93,878 shares of the company’s stock, valued at $2,193,928.86. The disclosure for this sale can be found here. 9.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of TG Therapeutics by 75.5% during the second quarter. Envestnet Asset Management Inc. now owns 27,822 shares of the biopharmaceutical company’s stock worth $691,000 after purchasing an additional 11,973 shares in the last quarter. American International Group Inc. increased its position in shares of TG Therapeutics by 2.7% in the 2nd quarter. American International Group Inc. now owns 66,047 shares of the biopharmaceutical company’s stock valued at $1,641,000 after purchasing an additional 1,759 shares during the last quarter. Innovis Asset Management LLC purchased a new stake in shares of TG Therapeutics in the 2nd quarter valued at approximately $508,000. Mackenzie Financial Corp grew its position in shares of TG Therapeutics by 47.5% in the 2nd quarter. Mackenzie Financial Corp now owns 18,788 shares of the biopharmaceutical company’s stock valued at $427,000 after buying an additional 6,053 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of TG Therapeutics by 25.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 589,639 shares of the biopharmaceutical company’s stock valued at $14,647,000 after buying an additional 120,406 shares during the last quarter. Institutional investors and hedge funds own 62.66% of the company’s stock.

TG Therapeutics Company Profile

(Get Free Report)

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.