Brean Capital Maintains Buy On TG Therapeutics On The Heels Of SPA Agreement
In a research report issued today, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on TG Therapeutics (NASDAQ:TGTX) with a $19 price target, following special protocol assessment (SPA) agreement with the FDA for the company’s first Phase 3 trial for TG-1101 plus ibrutinib for CLL patients with high-risk cytogenetics, achieving a priority in developing this combination therapy.
Aschoff noted, “We note TG management’s continued solid execution regarding both of its drug programs, aided by its alliance with US Oncology for Phase 2 and now Phase 3. More details about the SPA will be announced at the launch of the Phase 3 trial by YE14. We note that Dr. Sharman, the lead investigator in the Phase 2 trial of TG-1101 plus ibrutinib will also lead the Phase 3 trial, which speaks to the impressive efficacy and safety seen so far with this combination. The Phase 2 trial of TG-1101 plus ibrutinib is now fully enrolled, with efficacy and safety data from more than 30 Phase 2 CLL patients to be available at the ASH conference in December.”
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 17.4% and a 58.5% success rate. Aschoff has a 6.6% average return when recommending TGTX, and is ranked #165 out of 3274 analysts.