Shares of TG Therapeutics, Inc. (NASDAQ:TGTX – Get Free Report) were down 4.8% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $56.11 and last traded at $56.9820. 564,334 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 2,099,753 shares. The stock had previously closed at $59.83.
The biopharmaceutical company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The firm had revenue of $259.94 million for the quarter, compared to analysts’ expectations of $245.47 million. During the same period in the previous year, the company posted $2.43 earnings per share. The business’s quarterly revenue was up 60.8% compared to the same quarter last year.
Wall Street Analyst Weigh In
Several research firms recently commented on TGTX. HC Wainwright reiterated a “buy” rating and set a $78.00 price objective on shares of TG Therapeutics in a research note on Tuesday, September 1st. Zacks Research raised shares of TG Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. B. Riley Financial upped their price target on TG Therapeutics from $55.00 to $86.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded TG Therapeutics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.00.
View Our Latest Research Report on TG Therapeutics
Insiders Place Their Bets
In other TG Therapeutics news, Director Laurence Charney sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was 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 of the company’s stock, valued at approximately $9,268,454.40. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.87% of the company’s stock.
Hedge Funds Weigh In On TG Therapeutics
Several hedge funds have recently modified their holdings of TGTX. BlackRock Inc. purchased a new position in shares of TG Therapeutics in the 2nd quarter valued at approximately $1,211,429,000. Bank of America Corp DE boosted its stake in TG Therapeutics by 71.7% in the 1st quarter. Bank of America Corp DE now owns 1,461,302 shares of the biopharmaceutical company’s stock worth $48,544,000 after purchasing an additional 610,195 shares in the last quarter. Dimensional Fund Advisors LP grew its position in TG Therapeutics by 129.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,084,855 shares of the biopharmaceutical company’s stock worth $36,029,000 after purchasing an additional 612,068 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in TG Therapeutics during the 2nd quarter worth approximately $49,472,000. Finally, Wellington Management Group LLP grew its position in TG Therapeutics by 697.6% during the 2nd quarter. Wellington Management Group LLP now owns 478,265 shares of the biopharmaceutical company’s stock worth $26,276,000 after purchasing an additional 418,300 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.
TG Therapeutics Price Performance
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 has a market cap of $8.66 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.89. The stock’s 50 day simple moving average is $55.80 and its 200-day simple moving average is $44.50.
TG Therapeutics Company Profile
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.
Featured Stories
- Five stocks we like better than TG Therapeutics
- America’s Rare Earth Clock Is Running Out, But the Bottleneck Isn’t Where You Think
- Atlassian Tanks After Huge Run as Guidance Disappoints, But Strength Remains
- Lemonade’s Revenue Soars 73%—So Why Did Its Stock Turn Sour After Earnings?
- Anthropic’s S-1 Strengthens the Case for Broadcom’s AI Growth
Receive News & Ratings for TG Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TG Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.
