H.C. Wainwright analyst Edward White maintained a Buy rating on TG Therapeutics (TGTX – Research Report) today and set a price target of $45.00.
Edward White’s rating is based on several compelling factors related to TG Therapeutics’ recent developments and financial forecasts. The company’s European partner, Neuraxpharm, has initiated the launch of Briumvi in Germany, a move that prompted a substantial $12.5 million milestone payment. This launch serves as the first among anticipated additional European releases, which could lead to further milestone-based payments and significant tiered royalties for TG Therapeutics. With expectations of up to potentially 30% royalties on net sales, this strategic expansion into the European market underpins the optimism surrounding the stock’s future performance.
Furthermore, White’s confidence in TG Therapeutics is bolstered by the company’s strong preliminary financial results and promising guidance. The company has outperformed prior sales estimates for Briumvi in the U.S., with projected revenues that suggest robust growth. These factors combined with the estimated year-end cash position contribute to a favorable outlook. The Buy rating is also supported by a valuation approach that considers the net present value of projected revenues through 2028, benchmarking against peer companies’ price-to-sales multiples, and anticipating significant U.S. and European revenue streams for Briumvi. However, it is important to note that the recommendation also accounts for various risks, including commercial and regulatory challenges, which investors should consider.
According to TipRanks, White is an analyst with an average return of -11.6% and a 33.00% success rate. White covers the Healthcare sector, focusing on stocks such as Valneva, 60 Degrees Pharmaceuticals, Inc., and Syndax Pharmaceuticals.
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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:
- TGTX Upcoming Earnings Report: What to Expect?
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