TG Therapeutics (NASDAQ:TGTX) Announces Quarterly Earnings Results, Misses Estimates By $0.26 EPS

TG Therapeutics (NASDAQ:TGTX) posted 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%.The company’s revenue for the quarter was up 70.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS.

TG Therapeutics Price Performance

TG Therapeutics stock opened at $52.03 on Monday. The company’s fifty day moving average price is $50.48 and its 200 day moving average price is $38.94. TG Therapeutics has a 1 year low of $25.28 and a 1 year high of $59.30. The stock has a market capitalization of $7.96 billion, a P/E 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.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On TG Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TGTX. Royal Bank of Canada grew its position in shares of TG Therapeutics by 16.4% in the first quarter. Royal Bank of Canada now owns 75,692 shares of the biopharmaceutical company’s stock valued at $2,985,000 after purchasing an additional 10,660 shares during the period. NewEdge Advisors LLC lifted its stake in TG Therapeutics by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 7,593 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 665 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in TG Therapeutics by 21.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,919,416 shares of the biopharmaceutical company’s stock valued at $75,683,000 after buying an additional 345,059 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in TG Therapeutics by 5.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,059 shares of the biopharmaceutical company’s stock worth $11,319,000 after buying an additional 14,689 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in TG Therapeutics by 86.3% in the 2nd 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 last quarter. 58.58% of the stock is owned by hedge funds and other institutional investors.

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.