Brean Capital Maintains Buy On TG Therapeutics Following 3Q14 Update
Brean Capital analyst Jonathan Aschoff maintained a Buy rating on TG Therapeutics (NASDAQ:TGTX) with a $22 price target, following the company’s third-quarter financial results and update on its pipeline.
Aschoff wrote, “TG will initiate its first Phase 3 trial under an SPA for TG-1101 plus ibrutinib by YE14, where 330 high-risk CLL patients will be randomized to either TG-1101 plus ibrutinib or ibrutinib alone, and about the first 2/3 of patients will be assessed for ORR as the primary endpoint for TG-1101 accelerated approval. Updated Phase 2 TG-1101 plus ibrutinib data will come at ASH. At the time of the ASH abstracts, ORR was 100% in all 8 high-risk CLL patients, the Phase 3 target population; 1 had CR and 7 had PR. Given this experience thus far, we believe that ASH results will impress and Phase 3 will succeed. TG also plans to present additional data from its Phase 1/2 TG-1101 plus TGR-1202 trial for CLL and NHL at an oral presentation at ASH. We note TG’s continued rapid progress through the clinic and emphasize the importance of owning two assets that if approved should allow the company to afford patients a combination therapy at a very competitive price versus the purchase of both activities from two different sources, which is important to payers given the often extended duration of lymphoma treatment. With $93.4 million, TG has sufficient cash to support clinical development well into 2016.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 13.7% and a 63.0% success rate. Aschoff has a 24.5% average return when recommending TGTX, and is ranked #141 out of 3369 analysts.