In a report issued on June 4, Madhu Kumar from B.Riley FBR reiterated a Buy rating on TG Therapeutics (NASDAQ: TGTX), with a price target of $25. The company’s shares closed yesterday at $14.95.
Kumar observed:
“This morning, 6/4, TG Therapeutics (TGTX) announced updated Phase II monotherapy data for PI3Kδ inhibitor umbralisib in chronic lymphocytic leukemia (CLL) patients intolerant to previous BTK and PI3Kδ therapy at the Oncology (ASCO) 2018 annual meeting in Chicago (the poster can be found here). We view these results as a positive, as they support clear efficacy for umbralisib in CLL and further de-risk the upcoming UNITY-CLL Phase III trial readout guided for 2Q18/summer 2018. We thus reiterate our TGTX Buy rating, $25 price target, and the firm’s status as one of our Out-the-Gate 2018 picks.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 38.3% and a 60.0% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Clementia Pharmaceuticals Inc, and Deciphera Pharmaceuticals Inc.
Currently, the analyst consensus on TG Therapeutics is Strong Buy and the average price target is $31.50, representing an 110.7% 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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The company has a one-year high of $17.35 and a one-year low of $7.25. Currently, TG Therapeutics has an average volume of 1.09M.
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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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