H.C. Wainwright Sticks to Its Buy Rating for TG Therapeutics (TGTX)

By Ryan Adsit

H.C. Wainwright analyst Edward White maintained a Buy rating on TG Therapeutics (NASDAQ: TGTX) today and set a price target of $21. The company’s shares closed yesterday at $4.93, close to its 52-week low of $4.20.

White wrote:

“We use a 4x price/sales multiple for these products, an early stage pipeline value of $2.84/share, and fully diluted net cash of $1.10/share to arrive at our price target. Our P/S multiple of 4x is in-line with TG’s peers that range between 2-5x. We use a 20% discount rate for the pipeline as it is above the marketed products discount rate due to development risks but within the typical range of 15-25% for products in development. We project revenues of $260M and $227M for ublituximab in CLL and NHL, respectively, in 2026. For umbralisib, we project 2026 revenues of $190M and $125M in CLL and NHL, respectively.”

According to TipRanks.com, White is a 5-star analyst with an average return of 14.1% and a 44.8% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TG Therapeutics with a $22 average price target.

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Based on TG Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $44.14 million. In comparison, last year the company had a GAAP net loss of $31.54 million.

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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.