TG Therapeutics (NASDAQ:TGTX) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

TG Therapeutics (NASDAQ:TGTX) posted its quarterly earnings results on Monday. The biopharmaceutical company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01), Briefing.com reports. TG Therapeutics had a net margin of 27.60% and a return on equity of 57.73%. The business had revenue of $83.90 million during the quarter, compared to the consensus estimate of $81.68 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The company’s revenue for the quarter was down 49.4% compared to the same quarter last year.

TG Therapeutics Stock Performance

NASDAQ:TGTX traded up $1.31 during trading hours on Wednesday, hitting $27.17. 4,139,878 shares of the company were exchanged, compared to its average volume of 3,650,948. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -258.60 and a beta of 2.19. TG Therapeutics has a 52-week low of $9.81 and a 52-week high of $27.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.58 and a quick ratio of 2.83. The company’s 50 day moving average price is $23.57 and its 200-day moving average price is $20.26.

Analyst Upgrades and Downgrades

TGTX has been the subject of several recent research reports. HC Wainwright boosted their price target on shares of TG Therapeutics from $49.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen initiated coverage on shares of TG Therapeutics in a research report on Tuesday, October 29th. They issued a “buy” rating and a $50.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of TG Therapeutics from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, B. Riley lifted their price objective on shares of TG Therapeutics from $29.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.67.

About TG Therapeutics

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.