TG Therapeutics, Inc. (TGTX) Posts Earnings Results, Beats Estimates By $0.01 EPS
TG Therapeutics, Inc. (NASDAQ:TGTX) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.01, Bloomberg Earnings reports. The business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.04 million. TG Therapeutics had a negative net margin of 60,613.16% and a negative return on equity of 135.31%.
TG Therapeutics (NASDAQ TGTX) traded down 0.49% during midday trading on Thursday, hitting $10.10. 1,653,303 shares of the company’s stock traded hands. The company’s market capitalization is $622.73 million. The company has a 50 day moving average of $10.95 and a 200-day moving average of $9.95. TG Therapeutics has a 52 week low of $4.10 and a 52 week high of $15.35.
In other TG Therapeutics news, CFO Sean A. Power sold 59,976 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $11.09, for a total transaction of $665,133.84. Following the sale, the chief financial officer now owns 477,464 shares in the company, valued at approximately $5,295,075.76. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.70% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in TG Therapeutics by 4.1% in the first quarter. Legal & General Group Plc now owns 9,801 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 384 shares during the last quarter. BB&T Securities LLC bought a new stake in TG Therapeutics during the first quarter valued at about $121,000. Hollencrest Securities LLC bought a new stake in TG Therapeutics during the second quarter valued at about $121,000. Thompson Davis & CO. Inc. bought a new stake in TG Therapeutics during the first quarter valued at about $154,000. Finally, Bank of America Corp DE increased its stake in TG Therapeutics by 11.0% in the first quarter. Bank of America Corp DE now owns 14,076 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 1,395 shares during the last quarter. Hedge funds and other institutional investors own 45.68% of the company’s stock.
A number of equities research analysts recently commented on TGTX shares. FBR & Co reissued a “buy” rating on shares of TG Therapeutics in a research note on Monday, May 1st. BidaskClub cut shares of TG Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Jefferies Group LLC started coverage on shares of TG Therapeutics in a research note on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price objective on the stock. Zacks Investment Research cut shares of TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, ValuEngine raised shares of TG Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.67.
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TG Therapeutics Company Profile
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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