Briumvi’s Market Share Growth and TG Therapeutics’ Strong Financial Outlook Justify Buy Rating

Mayank Mamtani, an analyst from B.Riley Financial, reiterated the Buy rating on TG Therapeutics (TGTX – Research Report). The associated price target remains the same with $29.00.

Mayank Mamtani has given his Buy rating due to a combination of factors concerning TG Therapeutics’ market execution and financial outlook. His projection is influenced by the anticipation of the company’s Briumvi product gaining market share, as evidenced by an increase in prescription volume trends and an expected uptick in U.S. sales guidance. Despite a general flattening in sales for competing products, Briumvi is poised to capture a larger share, with an annualized U.S. product sales forecast that significantly exceeds the billion-dollar mark. Moreover, Mamtani finds TG Therapeutics’ strategic investments to enhance the long-term competitiveness of their multiple sclerosis franchise promising, which includes a focus on ‘Ocrevus-switch’ patients and the development of a subcutaneous bioequivalent of Briumvi, among other initiatives.

Mamtani’s rating also reflects his analysis of the industry landscape, where TG Therapeutics’ competitors are increasing R&D investments, but face high barriers to entry. This context supports the potential for Briumvi to maintain a strong share gain momentum. Furthermore, the recent national contract win with the Department of Veterans Affairs, which positions Briumvi as the preferred anti-CD20 agent, indicates a significant revenue stream over the next few years. Mamtani acknowledges the critical importance of new prescription growth and the stacking effect of maintenance dose patients, which could substantially increase the company’s market share in the RMS (relapsing multiple sclerosis) patient population. These factors, combined with a stock price that reflects subdued expectations, suggest a favorable risk-reward profile, justifying the Buy rating.

According to TipRanks, Mamtani is an analyst with an average return of -21.9% and a 22.00% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Denali Therapeutics, Cytokinetics, and Altimmune.

In another report released on April 18, H.C. Wainwright also maintained a Buy rating on the stock with a $45.00 price target.

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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.