Q3 2017 Earnings Estimate for TG Therapeutics, Inc. (TGTX) Issued By SunTrust Banks
TG Therapeutics, Inc. (NASDAQ:TGTX) – Stock analysts at SunTrust Banks lowered their Q3 2017 earnings per share estimates for TG Therapeutics in a research note issued to investors on Wednesday. SunTrust Banks analyst Y. Suneja now forecasts that the biopharmaceutical company will post earnings of ($0.46) per share for the quarter, down from their previous forecast of ($0.45). SunTrust Banks also issued estimates for TG Therapeutics’ Q4 2017 earnings at ($0.47) EPS, FY2018 earnings at ($1.75) EPS, FY2019 earnings at ($1.25) EPS, FY2020 earnings at ($0.75) EPS and FY2021 earnings at $0.08 EPS.
TGTX has been the topic of several other research reports. FBR & Co reaffirmed a “buy” rating on shares of TG Therapeutics in a research report on Thursday, May 18th. Zacks Investment Research cut TG Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. ValuEngine raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub raised TG Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price objective on shares of TG Therapeutics in a research report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.67.
Shares of TG Therapeutics (TGTX) opened at 10.10 on Friday. The company’s market capitalization is $622.73 million. The firm has a 50-day moving average price of $10.95 and a 200 day moving average price of $9.95. TG Therapeutics has a 12-month low of $4.10 and a 12-month high of $15.35.
TG Therapeutics (NASDAQ:TGTX) last released its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.45) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.01. TG Therapeutics had a negative return on equity of 162.02% and a negative net margin of 68,806.59%. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.04 million.
Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in shares of TG Therapeutics during the first quarter worth approximately $443,000. Two Sigma Securities LLC purchased a new stake in shares of TG Therapeutics during the first quarter worth approximately $325,000. North Star Investment Management Corp. boosted its stake in shares of TG Therapeutics by 110.0% in the first quarter. North Star Investment Management Corp. now owns 21,000 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 11,000 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of TG Therapeutics during the first quarter worth approximately $1,291,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of TG Therapeutics during the first quarter worth approximately $811,000. 45.68% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Sean A. Power sold 59,976 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $11.09, for a total value of $665,133.84. Following the completion of the sale, the chief financial officer now owns 477,464 shares of the company’s stock, valued at approximately $5,295,075.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.70% of the stock is owned by company insiders.
About TG Therapeutics
TG Therapeutics, Inc (TG) is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for B-cell malignancies and autoimmune diseases. As of December 31, 2016, the Company was developing two therapies targeting hematological malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a specific epitope on the cluster of differentiation (CD20) antigen found on mature B-lymphocytes.
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