Brean Capital Assumes TG Therapeutics (TGTX) at Buy
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Brean Capital assumes coverage on TG Therapeutics (NASDAQ: TGTX) with a Buy rating and a price target of $28.00.
Analyst Jason Wittes commented, "We are assuming coverage of TGTX with a Buy rating and $28 target price. The company has two lead oncology drug candidates in Phase III trials: TG-1101 (a monoclonal antibody that targets a unique epitope on the B-lymphocyte CD20 antigen) and TGR-1202 (a PI3K delta inhibitor, which has shown a significantly better toxicity profile than competing PI3K inhibitors in Phase II trials). If approved, the company looks to package them as combination therapies at very competitive prices versus combination therapies from two different sources—especially important to payers for such treatments as lymphoma and other less aggressive cancers with prolonged treatment regimes. We expect TG to make rapid progress through the clinic and emphasize the importance of owning multiple assets. TG had cash of $75.8M at the end of 2Q16, which management believes is sufficient to support operations into 2Q18."
Shares of TG Therapeutics closed at $8.38 yesterday.
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