TG Therapeutics (NASDAQ:TGTX) Announces Quarterly Earnings Results

TG Therapeutics (NASDAQ:TGTX) announced its quarterly earnings results on Monday. The biopharmaceutical company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02), FiscalAI reports. The business had revenue of $259.94 million during the quarter, compared to the consensus estimate of $245.47 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $59.83 on Monday. TG Therapeutics has a fifty-two week low of $26.76 and a fifty-two week high of $63.60. The company has a debt-to-equity ratio of 1.23, a quick ratio of 3.72 and a current ratio of 4.27. The firm’s 50-day simple moving average is $55.80 and its 200 day simple moving average is $44.50. The stock has a market cap of $9.16 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.53 and a beta of 1.89.

Insider Buying and Selling

In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $54.96, for a total value of $274,800.00. Following the completion of the sale, the director owned 168,640 shares in the company, valued at approximately $9,268,454.40. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.87% of the company’s stock.

Analyst Upgrades and Downgrades

TGTX has been the subject of several analyst reports. B. Riley Financial increased their price objective on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Weiss Ratings raised TG Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their target price on TG Therapeutics from $65.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. HC Wainwright reiterated a “buy” rating and set a $78.00 price target on shares of TG Therapeutics in a report on Tuesday, September 1st. Finally, Zacks Research raised TG Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, TG Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $63.00.

About TG Therapeutics

TG Therapeutics is a biopharmaceutical company focused on developing and commercializing treatments for B-cell diseases, including autoimmune disorders and blood cancers. Its research has centered on therapies that target B cells, a type of immune cell involved in these conditions.

The company’s marketed product, BRIUMVI (ublituximab-xiiy), is an anti-CD20 monoclonal antibody approved in the United States to treat adults with relapsing forms of multiple sclerosis. TG Therapeutics also has investigated other drug candidates and combinations for immune-related and hematologic diseases.

Headquartered in New York, TG Therapeutics serves patients in the United States and has expanded BRIUMVI’s availability into international markets, including Europe.