TG Therapeutics (TGTX) Soars 8.7%: Is Further Upside Left in the Stock?
TG Therapeutics TGTX shares soared 8.7% in the last trading session to close at $13.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 33.2% gain over the past four weeks.
TG Therapeutics recorded a strong price increase before its fourth-quarter 2022 earnings release with the latest Zacks Consensus Estimate showing significant upward revision for its quarterly earnings compared to the year-ago reported number. The company is expected to release its fourth quarter earnings on Mar 7, 2023.
This biopharmaceutical company is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +62.9%. Revenues are expected to be $0.04 million, down 98.3% 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 13.9% 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 #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
TG Therapeutics belongs to the Zacks Medical - Products industry. Another stock from the same industry, Surface Oncology, Inc. SURF, closed the last trading session 2% lower at $0.98. Over the past month, SURF has returned 18.5%.
Surface Oncology, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.29. Compared to the company's year-ago EPS, this represents a change of +44.2%. Surface Oncology, Inc. currently boasts a Zacks Rank of #3 (Hold).
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