After H.C. Wainwright and B.Riley FBR gave TG Therapeutics (NASDAQ: TGTX) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Reni Benjamin maintained a Buy rating on TG Therapeutics today. The company’s shares opened today at $13.80.
Benjamin noted:
“We are maintaining our Strong Buy rating. Association (EHA) meeting, the company presented two posters and two oral presentations highlighting the potential of umbralisib, a PI3K delta inhibitor, and TG-1701, a BTK inhibitor. Key takeaways are: 1) Umbralisib continues to impress with favorable long-term safety data (over six months) when compared to other Umbralisib + ruxolitinib appears to provide some benefit for myelofibrosis (MF) patients who are not adequately responding to ruxolitinib alone; and 3) preclinical antitumor efficacy data support TG-1701 entry into the clinic.”
According to TipRanks.com, Benjamin is a 4-star analyst with an average return of 6.9% and a 47.1% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Adaptimmune Therapeutics, Audentes Therapeutics, and Leap Therapeutics Inc.
Currently, the analyst consensus on TG Therapeutics is Strong Buy and the average price target is $31.50, representing a 128.3% upside.
In a report issued on June 4, H.C. Wainwright also assigned a Buy rating to the stock with a $38 price target.
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Based on TG Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $41.53 million. In comparison, last year the company had a GAAP net loss of $27.73 million.
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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.
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