H.C. Wainwright analyst Edward White maintained a Buy rating on TG Therapeutics (TGTX) yesterday and set a price target of $20. The company’s shares opened today at $4.49, close to its 52-week low of $4.20.
White commented:
“We use the net present value of our revenue forecast through 2026, apply a 55% probability of success (POS) for ublituximab in CLL, a 45% POS for umbralisib in 25% POS for both ublituximab and umbralisib in NHL, to arrive at our $33 price target. We use a 4x price/sales multiple, and 3Q17 fully diluted net cash of $1.20/ share to arrive at our $33 price target. Our P/S multiple of 4x is in-line with TG’s peers that range between 2-5x.”
According to TipRanks.com, White is a 5-star analyst with an average return of 13.1% and a 43.5% success rate. White covers the Healthcare sector, focusing on stocks such as Syndax Pharmaceuticals Inc, Spectrum Pharmaceuticals, and Synthetic Biologics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for TG Therapeutics with a $21.75 average price target.
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The company has a one-year high of $17.35 and a one-year low of $4.20. Currently, TG Therapeutics has an average volume of 1.66M.
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TG Therapeutics, Inc. is a biopharmaceutical company, which engages in the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. It also involves developing TG-1101 and TGR-1202 therapies targeting hematological malignancies.
