TG Therapeutics (TGTX) stock skyrocketed Monday after the biotech company handily beat Wall Street's fourth-quarter sales expectations and issued a bullish outlook for 2025.
Strategy" vid-repeat="1" vid-top="" vid-url="https://content.jwplatform.com/manifests/082BXcOe.m3u8" vid-width="100"> ↑ X NOW PLAYING How To Buy Stocks: Profit From Earnings Reports Using This Option StrategyThe company is well known for its multiple sclerosis treatment, Briumvi. During the fourth quarter and 2024, Briumvi brought in a respective $103.6 million and $310 million in sales. Sales soared roughly 250% year over year, TG said in a news release.
Both measures easily topped expectations. Analysts polled by FactSet called for $99.5 million in fourth-quarter sales and $305.9 million for the year.
For the current year, TG expects Briumvi to generate $540 million in sales, ahead of forecasts for $534.4 million.
TG Therapeutics stock rocketed 16.9% to 35.18. Shares bounded off their 50-day moving average and are closing in on a buy point at 36.84 out of a consolidation, according to MarketSurge. Shares also just landed on IBD's Leaderboard.
More to follow.
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