B.Riley FBR Assigns a Buy Rating on TG Therapeutics

By Carrie Williams

In a report released yesterday, Madhu Kumar from B.Riley FBR assigned a Buy rating to TG Therapeutics (NASDAQ: TGTX), with a price target of $21.50. The company’s shares closed yesterday at $8.60.

Kumar wrote:

“We are resuming coverage of TG Therapeutics, Inc. (TGTX) with a Buy rating and a 12-month price target of $21.50 per share due to our belief in the likelihood of success for the firm’s lead asset, anti-CD20 monoclonal antibody (mAb) ublituximab combined with phosphoinositide 3- kinase δ (PI3Kδ) inhibitor umbralisib (U/U) for chronic lymphocytic leukemia (CLL). We believe that U/U is reasonably likely to achieve success in the pivotal UNITY-CLL trial, for which top-line results are expected in 2Q18 and are likely to represent the main value driver for TGTX’s CLL franchise. Ublituximab is also in Phase III ULTIMATE 1/2 studies in relapsing multiple sclerosis (RMS), which we believe is another highly de-risked pivotal program.”

According to TipRanks.com, Kumar is a 5-star analyst with an average return of 30.3% and a 61.7% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Iovance Biotherapeutics Inc.

Currently, the analyst consensus on TG Therapeutics is Strong Buy and the average price target is $26, representing a 202.3% upside.

In a report issued on November 27, H.C. Wainwright also assigned a Buy rating to the stock with a $33 price target.

The company has a one-year high of $15.35 and a one-year low of $4.10. Currently, TG Therapeutics has an average volume of 1.28M.

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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. It also involves developing TG-1101 and TGR-1202 therapies targeting hematological malignancies. The company was founded by Michael Sean Weiss and Laurence H.