B. Riley Weighs in on TG Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:TGTX)

TG Therapeutics, Inc. (NASDAQ:TGTX) – Stock analysts at B. Riley increased their Q2 2024 earnings per share estimates for shares of TG Therapeutics in a research report issued to clients and investors on Wednesday, May 1st. B. Riley analyst M. Mamtani now forecasts that the biopharmaceutical company will post earnings of ($0.04) per share for the quarter, up from their prior estimate of ($0.05). B. Riley has a “Buy” rating and a $29.00 price objective on the stock. The consensus estimate for TG Therapeutics’ current full-year earnings is ($0.11) per share. B. Riley also issued estimates for TG Therapeutics’ Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at $0.04 EPS and FY2024 earnings at ($0.10) EPS.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reissued an “overweight” rating and set a $25.00 target price on shares of TG Therapeutics in a report on Thursday, April 18th. The Goldman Sachs Group upped their price objective on TG Therapeutics from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. LADENBURG THALM/SH SH lifted their target price on TG Therapeutics from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. StockNews.com downgraded shares of TG Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 24th. Finally, HC Wainwright lifted their price objective on shares of TG Therapeutics from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Two investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

TG Therapeutics Trading Up 2.0 %

Shares of NASDAQ:TGTX opened at $16.51 on Monday. The company has a 50 day moving average of $15.25 and a 200-day moving average of $14.52. The company has a current ratio of 5.92, a quick ratio of 5.18 and a debt-to-equity ratio of 0.62. The firm has a market cap of $2.55 billion, a P/E ratio of 70.39 and a beta of 2.33. TG Therapeutics has a twelve month low of $6.46 and a twelve month high of $35.22.

TG Therapeutics (NASDAQ:TGTX) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $63.47 million during the quarter, compared to analyst estimates of $54.60 million. TG Therapeutics had a return on equity of 33.79% and a net margin of 14.24%. The business’s revenue for the quarter was up 713.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.28) EPS.

Insider Buying and Selling

In other TG Therapeutics news, Director Laurence N. Charney sold 22,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $15.97, for a total transaction of $351,340.00. Following the completion of the sale, the director now directly owns 215,229 shares of the company’s stock, valued at $3,437,207.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TG Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGTX. Vanguard Group Inc. boosted its position in shares of TG Therapeutics by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 13,670,944 shares of the biopharmaceutical company’s stock worth $233,500,000 after buying an additional 199,770 shares during the period. Wellington Management Group LLP boosted its position in TG Therapeutics by 1.4% during the 4th quarter. Wellington Management Group LLP now owns 3,139,764 shares of the biopharmaceutical company’s stock worth $53,627,000 after acquiring an additional 43,290 shares during the period. Opaleye Management Inc. grew its stake in TG Therapeutics by 17.2% during the 4th quarter. Opaleye Management Inc. now owns 2,215,000 shares of the biopharmaceutical company’s stock valued at $37,832,000 after acquiring an additional 325,000 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of TG Therapeutics by 164.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,367,400 shares of the biopharmaceutical company’s stock valued at $11,431,000 after purchasing an additional 850,507 shares during the period. Finally, 683 Capital Management LLC purchased a new stake in shares of TG Therapeutics in the third quarter worth approximately $11,286,000. 58.58% of the stock is currently owned by hedge funds and other institutional investors.

About TG Therapeutics

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.