Why Wouldn’t Pharmacyclics Take TG Out? Roth Capital Comments
In a research report sent to investors, Roth Capital analyst Joseph Pantginis reiterated a Buy rating on TG Therapeutics (NASDAQ:TGTX) with a price target of $33, which implies an upside of 122% from current levels.
Pantginis commented: “We believe TG had a very strong ASH and these are our two key takeaways: 1)multiple KOL positive views on the data strength and especially the safety profiles of TG’s drugs relative to the competition and 2) we think Pharmacyclics (NASDAQ:PCYC) just takes it out. We are likely days away from the start of the first Phase III study with TG-1101 and PCYC’s Imbruvica. The Phase II update from this combination was quite positive, in our belief, and we believe is a very strong proxy for the success of the Phase III. Looking forward for the shares, we believe TG is in its relative infancy with regard to its true Street visibility based on both early skeptics and the data which have quickly evolved into delivering a pivotal stage company.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -2.7% and a 41.7% success rate. Pantginis has a 40.9% average return when recommending TGTX, and is ranked #3135 out of 3403 analysts.