Mayank Mamtani, an analyst from B.Riley Financial, reiterated the Buy rating on TG Therapeutics (TGTX – Research Report). The associated price target is $29.00.
Mayank Mamtani has given his Buy rating due to a combination of factors concerning TG Therapeutics’ financial performance and market dynamics. The analyst has recognized the strong commercial execution of TG Therapeutics’ lead product, Briumvi, which has shown an impressive sales trajectory, exceeding consensus and management’s prior guide. The company’s sales of Briumvi in the fourth quarter and full year of 2023 were higher than expected, and preliminary sales guidance for the first quarter and full year of 2024 bracketed consensus estimates. This positive outlook, along with the anticipation of continued growth in the number of prescribing doctors, new prescription volume growth, and patient retention, underpins the Buy rating.
Furthermore, the competitive landscape in the anti-CD20 and BTK drug classes provides additional context for Briumvi’s potential success. Sales slowdowns among competitors such as Ocrevus from Roche, which missed consensus estimates and indicated minimal patient volume growth, suggest a favorable market opportunity for TG Therapeutics. Meanwhile, the company’s strategic investments and tight operational expenditure management indicate a clear path to profitability, with Briumvi’s sales expected to reach a peak annual run-rate within the 2025-2026 timeframe. These factors collectively contribute to Mayank Mamtani’s Buy recommendation for TGTX, as the company is positioned to potentially join the basket of successful product launch stories.
See Insiders’ Hot Stocks on TipRanks >>
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TGTX in relation to earlier this year.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
TG Therapeutics (TGTX) Company Description:
TG Therapeutics, Inc. is a biopharmaceutical company, which engages in the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its product pipeline includes TG-1101, Ublituximab, and Umbralisib. The company was founded by Michael Sean Weiss and Laurence H. Shaw on May 18, 1993 and is headquartered in New York, NY.
Read More on TGTX:
- TG Therapeutics price target raised to $39 from $37.50 at Ladenburg
- Biotech Alert: Searches spiking for these stocks today
- TG Therapeutics price target raised to $45 from $41 at H.C. Wainwright
- Unusually active option classes on open January 10th
- TG Therapeutics (NASDAQ:TGTX) Surges after Preliminary Q4 and FY23 Results
