TG Therapeutics (NASDAQ:TGTX) Stock Price Down 4.8% Following Weak Earnings

Key Points

• TG Therapeutics shares fell 4.8% after quarterly EPS of $0.35 missed analysts’ $0.37 estimate; trading volume was 73% below its average.
• Quarterly revenue was $259.94 million, above the $245.47 million consensus and up 60.8% year over year, despite the earnings-per-share miss.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $63; ratings included one Strong Buy, six Buys, one Hold, and one Sell.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) fell 4.8% 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 were traded during trading, a decline of 73% from the average session volume of 2,099,753 shares. The stock had previously closed at $59.83.

The biopharmaceutical company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). The company had revenue of $259.94 million for the quarter, compared to analysts' expectations of $245.47 million. TG Therapeutics had a net margin of 55.22% and a return on equity of 73.49%. The business's quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.43 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TGTX shares. B. Riley Financial increased their target price on shares of TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Zacks Research raised shares of TG Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, November 4th. Weiss Ratings upgraded shares of TG Therapeutics from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of TG Therapeutics from $65.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $78.00 price objective on shares of TG Therapeutics in a research report on Tuesday, September 1st. 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 assigned a Sell rating to the stock. According to MarketBeat.com, TG Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Insider Transactions at TG Therapeutics

In related news, Director Laurence Charney sold 5,000 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.96, for a total transaction of $274,800.00. Following the completion of the transaction, the director owned 168,640 shares in the company, valued at $9,268,454.40. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.87% of the stock is currently owned by insiders.

Institutional Trading of TG Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TGTX. Farther Finance Advisors LLC lifted its holdings in TG Therapeutics by 45.8% during the third quarter. Farther Finance Advisors LLC now owns 993 shares of the biopharmaceutical company's stock worth $55,000 after buying an additional 312 shares during the period. Jacobi Capital Management LLC bought a new stake in TG Therapeutics during the 3rd quarter valued at $57,000. EverSource Wealth Advisors LLC increased its holdings in shares of TG Therapeutics by 51.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the biopharmaceutical company's stock valued at $35,000 after acquiring an additional 365 shares during the period. Signaturefd LLC increased its holdings in shares of TG Therapeutics by 193.5% in the 3rd quarter. Signaturefd LLC now owns 1,092 shares of the biopharmaceutical company's stock valued at $61,000 after acquiring an additional 720 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in shares of TG Therapeutics in the 2nd quarter valued at $96,000. Hedge funds and other institutional investors own 58.58% of the company's stock.

TG Therapeutics Trading Down 5.5%

The stock has a market capitalization of $8.66 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.53 and a beta of 1.89. The company has a current ratio of 4.27, a quick ratio of 3.72 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $55.80 and a 200 day moving average price of $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.

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