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TG Therapeutics (TGTX) Surges 22.8%: Is This an Indication of Further Gains?
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TG Therapeutics (TGTX - Free Report) shares rallied 22.8% in the last trading session to close at $19.01. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.9% gain over the past four weeks.
TG Therapeutics recorded a strong price increase after American financial services firm, Cantor Fitzgerald, cited strong sales data for TG Therapeutics’ newly approved multiple sclerosis therapy Briumvi and argued that the biotech would likely meet or exceed the current consensus for the monoclonal antibody. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 9.
This biopharmaceutical company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of +29.4%. Revenues are expected to be $5.41 million, up 168% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TG Therapeutics, the consensus EPS estimate for the quarter has been revised 5.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TGTX going forward to see if this recent jump can turn into more strength down the road.
TG Therapeutics is a member of the Zacks Medical - Products industry. One other stock in the same industry, Abbott (ABT - Free Report) , finished the last trading session 1.2% lower at $103.70. ABT has returned 8.2% over the past month.
Abbott's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. Compared to the company's year-ago EPS, this represents a change of -43.4%. Abbott currently boasts a Zacks Rank of #3 (Hold).
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TG Therapeutics (TGTX) Surges 22.8%: Is This an Indication of Further Gains?
TG Therapeutics (TGTX - Free Report) shares rallied 22.8% in the last trading session to close at $19.01. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 9.9% gain over the past four weeks.
TG Therapeutics recorded a strong price increase after American financial services firm, Cantor Fitzgerald, cited strong sales data for TG Therapeutics’ newly approved multiple sclerosis therapy Briumvi and argued that the biotech would likely meet or exceed the current consensus for the monoclonal antibody. Also, the latest Zacks Consensus Estimate shows significant upward revision for its quarterly revenues compared to the year-ago reported number. The company is expected to release its first-quarter 2023 earnings on May 9.
This biopharmaceutical company is expected to post quarterly loss of $0.36 per share in its upcoming report, which represents a year-over-year change of +29.4%. Revenues are expected to be $5.41 million, up 168% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For TG Therapeutics, the consensus EPS estimate for the quarter has been revised 5.3% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on TGTX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TG Therapeutics is a member of the Zacks Medical - Products industry. One other stock in the same industry, Abbott (ABT - Free Report) , finished the last trading session 1.2% lower at $103.70. ABT has returned 8.2% over the past month.
Abbott's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.98. Compared to the company's year-ago EPS, this represents a change of -43.4%. Abbott currently boasts a Zacks Rank of #3 (Hold).