TG Therapeutics (TGTX) Receives a Buy from H.C. Wainwright

By Jason Carr

H.C. Wainwright analyst Edward White maintained a Buy rating on TG Therapeutics (TGTXResearch Report) today and set a price target of $20. The company’s shares closed on Friday at $5.54, close to its 52-week low of $4.20.

White observed:

“We are lowering our price target to $20, from $21, due to higher share count assumptions. Our $20 price target is based on the net present value of our revenue forecast through 2026, applying a 45% probability of success (POS) for ublituximab in CLL, a 45% POS for umbralisib in 25% POS for both ublituximab and umbralisib in NHL. 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 $0.75/ 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.”

According to TipRanks.com, White is a 5-star analyst with an average return of 13.9% and a 45.3% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.

Currently, the analyst consensus on TG Therapeutics is a Strong Buy with an average price target of $21.80.

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The company has a one-year high of $17.35 and a one-year low of $4.20. Currently, TG Therapeutics has an average volume of 1.63M.

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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.