Q3 2017 Earnings Estimate for TG Therapeutics, Inc. (NASDAQ:TGTX) Issued By SunTrust Banks
TG Therapeutics, Inc. (NASDAQ:TGTX) – Equities research analysts at SunTrust Banks decreased their Q3 2017 earnings estimates for TG Therapeutics in a research report issued on Wednesday. SunTrust Banks analyst Y. Suneja now anticipates that the biopharmaceutical company will post earnings of ($0.46) per share for the quarter, down from their prior 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.
A number of other equities analysts have also recently commented on the company. FBR & Co reaffirmed a “buy” rating on shares of TG Therapeutics in a research note on Monday, May 1st. BidaskClub cut 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 TG Therapeutics in a research note on Tuesday, April 25th. They issued a “buy” rating and a $23.00 price target on the stock. Zacks Investment Research cut TG Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Finally, ValuEngine raised 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. TG Therapeutics presently has an average rating of “Buy” and an average target price of $23.67.
Shares of TG Therapeutics (TGTX) opened at 10.10 on Friday. The company has a 50-day moving average price of $10.95 and a 200 day moving average price of $9.95. TG Therapeutics has a one year low of $4.10 and a one year high of $15.35. The company’s market capitalization is $622.73 million.
TG Therapeutics (NASDAQ:TGTX) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.45) earnings per share 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 company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.04 million.
Large investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of TG Therapeutics by 70.2% in the first quarter. FMR LLC now owns 6,451,713 shares of the biopharmaceutical company’s stock worth $75,162,000 after buying an additional 2,660,949 shares in the last quarter. Franklin Resources Inc. raised its stake in TG Therapeutics by 20.6% in the second quarter. Franklin Resources Inc. now owns 2,339,166 shares of the biopharmaceutical company’s stock valued at $23,509,000 after buying an additional 398,916 shares in the last quarter. Vanguard Group Inc. raised its stake in TG Therapeutics by 16.0% in the first quarter. Vanguard Group Inc. now owns 1,790,583 shares of the biopharmaceutical company’s stock valued at $20,860,000 after buying an additional 246,404 shares in the last quarter. Columbus Circle Investors raised its stake in TG Therapeutics by 39.0% in the second quarter. Columbus Circle Investors now owns 1,396,396 shares of the biopharmaceutical company’s stock valued at $14,034,000 after buying an additional 391,975 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in TG Therapeutics during the first quarter valued at $16,034,000. Hedge funds and other institutional investors own 45.68% of the company’s stock.
In other news, CFO Sean A. Power sold 59,976 shares of TG Therapeutics stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 477,464 shares in the company, valued at approximately $5,295,075.76. The sale was disclosed in a filing with the SEC, which is available through this link. 16.70% of the stock is currently owned by company insiders.
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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