TG Therapeutics (NASDAQ:TGTX) Trading Down 9% on Disappointing Earnings

Key Points

• TG Therapeutics shares fell about 9% after the company reported quarterly EPS of $0.05, missing the $0.31 consensus estimate by $0.26. Despite the earnings shortfall, revenue increased 70.2% year over year.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, three rate it a Hold and one rates it a Sell. The overall consensus is Hold, with a price target of $58.50.
• Institutional investors and hedge funds own 58.58% of the company, while TG Therapeutics has a $7.23 billion market capitalization and a 50-day moving average of $50.48.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) shares traded down 9% during mid-day trading on Monday after the company announced weaker than expected quarterly earnings. The stock traded as low as $47.10 and last traded at $47.3470. 861,974 shares were traded during trading, a decline of 61% from the average daily volume of 2,199,253 shares. The stock had previously closed at $52.03.

The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.26). TG Therapeutics had a net margin of 65.95% and a return on equity of 88.73%. The firm's quarterly revenue was up 70.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 earnings per share.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America increased their target price on TG Therapeutics from $17.00 to $20.00 and gave the company an "underperform" rating in a report on Tuesday, July 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of TG Therapeutics in a report on Wednesday. B. Riley Financial increased their price objective on TG Therapeutics from $55.00 to $86.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Jefferies Financial Group reiterated a "buy" rating and set a $83.00 price objective on shares of TG Therapeutics in a research report on Monday, June 22nd. Finally, HC Wainwright boosted their target price on shares of TG Therapeutics from $70.00 to $77.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.50.

Hedge Funds Weigh In On TG Therapeutics

Hedge funds have recently made changes to their positions in the stock. Danske Bank A S purchased a new position in shares of TG Therapeutics in the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC grew its position in TG Therapeutics by 51.9% during the first 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. Hantz Financial Services Inc. increased its stake in TG Therapeutics by 82.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,237 shares of the biopharmaceutical company's stock worth $37,000 after acquiring an additional 560 shares during the last quarter. Truvestments Capital LLC raised its holdings in shares of TG Therapeutics by 172.4% in the 4th quarter. Truvestments Capital LLC now owns 1,621 shares of the biopharmaceutical company's stock worth $48,000 after purchasing an additional 1,026 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of TG Therapeutics in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Down 9.3%

The company has a current ratio of 5.81, a quick ratio of 5.12 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.30 and a beta of 1.62. The firm has a 50 day moving average price of $50.48 and a two-hundred day moving average price of $38.94.

TG Therapeutics Company Profile

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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