TG Therapeutics Receives a Buy from Raymond James

By Carrie Williams

Raymond James analyst Reni Benjamin reiterated a Buy rating on TG Therapeutics (NASDAQ: TGTX) today. The company’s shares opened today at $14.20.

Benjamin noted:

“We are reiterating our Strong Buy rating on TG Therapeutics. At the 2018 American Association of Cancer Research (AACR) annual meeting, the company presented a poster featuring preclinical data of a BET inhibitor (TG-1601), which, based on our analysis of the data, supports clinical evaluation of this compound in combination with the company’s other pipeline products. Separately, in the PI3K delta world, Incyte presented clinical data of its PI3K delta inhibitor (INCB050465) in combination with pembrolizumab (Pembro) in solid tumors, demonstrating that PI3K delta inhibition appeared to synergize with PD-1 blockade. We view the totality of the clinical findings as great news for TG Therapeutics given that the company may have a best-in-class PI3K delta inhibitor, which could also demonstrate synergistic clinical effects when combined with a PD-1/PD-L1 inhibitor.”

According to TipRanks.com, Benjamin is a 4-star analyst with an average return of 4.1% and a 45.1% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Voyager Therapeutics Inc, and Adverum Biotechnologies.

TG Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $27.50.

Based on TG Therapeutics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $38.1K and GAAP net loss of $30.86 million. In comparison, last year the company earned revenue of $38.1K and had a GAAP net loss of $27.73 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. The company was founded by Michael Sean Weiss and Laurence H.