FY2023 EPS Estimates for TG Therapeutics, Inc. (NASDAQ:TGTX) Lowered by Analyst

Posted by Defense World Staff on Oct 19th, 2023

TG Therapeutics, Inc. (NASDAQ:TGTX – Free Report) – Stock analysts at Cantor Fitzgerald lowered their FY2023 earnings estimates for TG Therapeutics in a report issued on Monday, October 16th. Cantor Fitzgerald analyst P. Agrawal now anticipates that the biopharmaceutical company will post earnings per share of ($1.19) for the year, down from their prior forecast of ($1.09). The consensus estimate for TG Therapeutics’ current full-year earnings is ($0.77) per share. Cantor Fitzgerald also issued estimates for TG Therapeutics’ FY2024 earnings at ($0.59) EPS.

TG Therapeutics (NASDAQ:TGTX – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $16.07 million for the quarter, compared to the consensus estimate of $17.39 million. TG Therapeutics had a negative return on equity of 309.58% and a negative net margin of 730.34%. The business’s revenue for the quarter was up 2606.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.30) earnings per share.

Several other analysts also recently commented on TGTX. The Goldman Sachs Group upgraded shares of TG Therapeutics from a “sell” rating to a “neutral” rating and lowered their target price for the company from $16.00 to $12.00 in a report on Wednesday, August 2nd. JPMorgan Chase & Co. cut their target price on TG Therapeutics from $34.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $41.00 price target on shares of TG Therapeutics in a research report on Monday, September 18th. StockNews.com initiated coverage on TG Therapeutics in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, B. Riley reaffirmed a “buy” rating and set a $32.00 target price (down from $42.00) on shares of TG Therapeutics in a research report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TG Therapeutics currently has an average rating of “Hold” and an average target price of $23.14.

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TG Therapeutics Stock Performance

NASDAQ TGTX opened at $6.84 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.45 and a debt-to-equity ratio of 2.42. The business has a fifty day simple moving average of $9.47 and a 200 day simple moving average of $18.80. TG Therapeutics has a 12 month low of $4.86 and a 12 month high of $35.67. The firm has a market capitalization of $1.03 billion, a P/E ratio of -5.39 and a beta of 2.12.

Hedge Funds Weigh In On TG Therapeutics

A number of large investors have recently made changes to their positions in TGTX. Ameritas Advisory Services LLC bought a new stake in TG Therapeutics during the 1st quarter worth approximately $25,000. RFP Financial Group LLC bought a new position in shares of TG Therapeutics in the second quarter worth $25,000. Macquarie Group Ltd. raised its position in shares of TG Therapeutics by 102.3% in the second quarter. Macquarie Group Ltd. now owns 10,190 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 5,152 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in TG Therapeutics during the second quarter worth about $46,000. Finally, Nemes Rush Group LLC bought a new position in TG Therapeutics in the 2nd quarter worth about $50,000. 57.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other TG Therapeutics news, CEO Michael S. Weiss bought 100,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price 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 directly owns 12,073,021 shares of the company’s stock, valued at $122,299,702.73. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 9.20% of the stock is currently owned by insiders.

TG Therapeutics Company Profile

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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.