TG Therapeutics (NASDAQ:TGTX – Get Free Report) released its quarterly earnings results on Monday. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.26), Briefing.com reports. TG Therapeutics had a return on equity of 88.73% and a net margin of 65.95%.During the same quarter in the prior year, the company earned $0.17 earnings per share. TG Therapeutics’s quarterly revenue was up 70.2% compared to the same quarter last year.
TG Therapeutics Price Performance
NASDAQ TGTX opened at $52.03 on Monday. The company has a market cap of $7.96 billion, a PE ratio of 18.19, a P/E/G ratio of 1.30 and a beta of 1.62. The company has a debt-to-equity ratio of 1.28, a quick ratio of 5.12 and a current ratio of 5.81. The firm’s 50 day moving average price is $50.48 and its 200-day moving average price is $38.94. TG Therapeutics has a 52-week low of $25.28 and a 52-week high of $59.30.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on TGTX shares. Zacks Research raised shares of TG Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating and set a $83.00 price objective on shares of TG Therapeutics in a report on Monday, June 22nd. B. Riley Financial lifted their price objective on shares of TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. HC Wainwright boosted their price objective on TG Therapeutics from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TG Therapeutics in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TG Therapeutics has a consensus rating of “Hold” and an average price target of $58.50.
Institutional Trading of TG Therapeutics
Institutional investors have recently made changes to their positions in the business. Maryland State Retirement & Pension System raised its stake in TG Therapeutics by 2.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 19,899 shares of the biopharmaceutical company’s stock valued at $593,000 after buying an additional 393 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in TG Therapeutics by 1.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,406 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 441 shares in the last quarter. Smartleaf Asset Management LLC grew its position in TG Therapeutics by 16.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,147 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 454 shares during the last quarter. Lido Advisors LLC increased its stake in TG Therapeutics by 3.9% during the 3rd quarter. Lido Advisors LLC now owns 14,276 shares of the biopharmaceutical company’s stock valued at $516,000 after purchasing an additional 541 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of TG Therapeutics by 86.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,237 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 573 shares during the period. Institutional investors and hedge funds own 58.58% of the company’s stock.
About TG Therapeutics
TG Therapeutics, Inc is a clinical‐stage biopharmaceutical company headquartered in New York City that specializes in developing targeted therapies for hematological malignancies and autoimmune diseases. The company’s research strategy focuses on the modulation of B-cell biology through novel antibody and small‐molecule agents. Since its founding in 2003, TG Therapeutics has built a diversified portfolio aimed at addressing unmet medical needs in oncology and immunology.
In December 2022, TG Therapeutics achieved its first commercial milestone when ublituximab-xiiy (marketed as Briumvi® in collaboration with Biogen) received U.S.
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