TG Therapeutics TGTX shares ended the last trading session 7.5% higher at $46.62. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2% gain over the past four weeks.
TG Therapeutics scored a strong price increase, on investors’ optimism driven by the recent announcement of positive topline Phase 1 data for BRIUMVI in patients with myasthenia gravis (MG). The company also initiated the Phase 2 clinical trial evaluating BRIUMVI as a maintenance therapy following induction with efgartigimod in adult patients with MG.
This biopharmaceutical company is expected to post quarterly earnings of $0.42 per share in its upcoming report, which represents a year-over-year change of +147.1%. Revenues are expected to be $230.64 million, up 63.4% 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 10.6% 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 belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Nurix Therapeutics, Inc. NRIX, closed the last trading session 2.2% lower at $15.3. Over the past month, NRIX has returned -2%.
For Nurix Therapeutics, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.73. This represents a change of -40.4% from what the company reported a year ago. Nurix Therapeutics currently has a Zacks Rank of #4 (Sell).
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TG Therapeutics, Inc. (TGTX): Free Stock Analysis Report
Nurix Therapeutics, Inc. (NRIX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).