Before the market opened today, MLV analyst Arlinda Lee reiterated a Buy rating on TG Therapeutics (NASDAQ:TGTX) with a $22 price target, which implies an upside of 57% from current levels.
Lee wrote, “Following discussions with Management, we believe the Phase 3 GENUINE trial of TG-1101 + ibrutinib in high-risk chronic lymphocytic leukemia (CLL) has started recruiting and that at least one pivotal trial of combination of TG-1101 + TGR-1202 will commence in 2015. Given the efficacy and safety seen in Phase 1 trials, we think this is an astute move, and TGTX’s ability to combine its PI3K-delta inhibitor and anti-CD20 antibody in-house puts them in an enviable position from a marketing and pricing perspective.”
Furthermore, the analyst highlighted the upcoming milestones for the stock, “In 1H15, we expect initiation of the first Phase 3 trial of the 1303 combination and completion of enrollment for the ongoing TG-1101 + lenalidomide trial. In 2H15, we anticipate initiation of a second Phase 3 1303 trial, a second Phase 1 trial of a triple combination including ublituximab and TGR-1202 and Phase 1 TGR-1202 + brentuximab results in r/r NHL and TGR-1202 with obinutuzumab and chlorambucil results in CLL. We also expect IRAK-4 inhibitors to enter the clinic and initiation of TGR-1202 trials in autoimmune disease.”
TG Therapeutics, Inc., a biopharmaceutical company, focuses on the acquisition, development, and commercialization of various pharmaceutical products for the treatment of cancer and other underserved therapeutic needs.