In a research note issued yesterday, H.C. Wainwright analyst Reni Benjamin reiterated a Buy rating on TG Therapeutics (NASDAQ:TGTX) with a $17 price target, following the company’s release of its third-quarter results.
Benjamin wrote, “Highlights this quarter include ongoing Phase 1 and 2 developments for TG-1101 and TGR-1202 with three potential price-moving, abstracts accepted for presentation at the ASH 2014 meeting. In addition, a SPA was secured for the company’s registration study evaluating TG-1101 in combination with ibrutinib slated to begin in 4Q14. With two de-risked lead assets ready to target multi-billion dollar therapeutic areas, news flow over the next 12-18 months to generate shareholder value, and a cash position of $93.4 MM (pro forma), we believe TG Therapeutics represents an undervalued player with significant upside for the long- term investor.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Reni Benjamin has a total average return of -3.6% and a 36.9% success rate. Benjamin has a 24.9% average return when recommending TGTX, and is ranked #3092 out of 3386 analysts.