Bullish indicating open at $55-$60, IPO prices at $37
TG Therapeutics Inc . (NASDAQ:TGTX) has reached a remarkable milestone, with its stock price hitting a 52-week high of $45.28. This significant price level reflects a robust period of growth for the biopharmaceutical company, which has seen its shares skyrocket over the past year. With a market capitalization of $7.17 billion and impressive gross profit margins of 88.3%, the company has demonstrated strong operational efficiency. According to InvestingPro data, TGTX’s revenue has grown by 40.8% over the last twelve months. Investors have been closely monitoring TGTX as it continues to make strides in its development of novel treatments for B-cell malignancies and autoimmune diseases. The company’s impressive performance is further underscored by its remarkable 221% return over the past year. This surge in stock value is a testament to the confidence shareholders have in TG Therapeutics’ potential and the anticipation surrounding its pipeline of innovative therapies. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with analysts setting price targets ranging from $11 to $55. Discover 18 additional valuable insights and comprehensive analysis available through the Pro Research Report.
In other recent news, TG Therapeutics reported its financial results for the fourth quarter of 2024, revealing a GAAP earnings per share (EPS) of $0.15, which surpassed both the firm’s and consensus estimates of $0.13. The non-GAAP EPS was also strong at $0.22, exceeding H.C. Wainwright’s projection of $0.20 and the consensus of $0.18. The company achieved total revenue of $108.2 million for the quarter, contributing to a full-year revenue of $329.0 million, with product revenue largely driven by $310.0 million in net sales of Briumvi in the U.S.
Additionally, TG Therapeutics presented new data on its multiple sclerosis treatment, BRIUMVI, at the American Academy of Neurology’s annual meeting. The data from the ENHANCE trial indicated that a single 600 mg dose was well tolerated by patients, and further plans for a registration-directed trial were announced. The company also shared findings from the ENAMOR survey and ENABLE Phase 4 study, highlighting BRIUMVI’s favorable tolerability profile and consistent safety data over five years of treatment.
Furthermore, TG Therapeutics shared insights from recent publications on patients switching to BRIUMVI from other anti-CD20 therapies, showing clinical improvements. H.C. Wainwright maintained a Buy rating for TG Therapeutics with a $55 price target, reflecting optimism about the company’s financial health and future revenue growth. The company ended 2024 with a cash position of approximately $311.0 million, indicating strong financial management.
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