TG Therapeutics (TGTX) Remains 'Focus Pick' Selection at Roth Capital Amid Amended GENUINE Phase 3
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Roth Capital affirms TG Therapeutics (Nasdaq: TGTX) with a Buy/Focus Pick rating and $33 price target after the company announced that it has filed with the FDA an amended protocol for the GENUINE Phase 3 trial.
Analyst Joseph Pantginis commented today,
In our opinion, TGTX shares are being oversold, whereas we see today's announcement as having important clarity. While difficult for us to pinpoint the negative driver for today's stock action, it could be due to the loss of the SPA and a perception of the study being less robust. We do not view it this way as the path for TG-1101 in GENUINE has become more clear. Importantly, there are three important precedents to highlight. Ibrutinib, idelalisib and venetoclax were all approved on ORR endpoints and single arm studies. GENUINE has the advantage of being randomized.
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