Analyst Alec Stranahan of Bank of America Securities reiterated a Sell rating on TG Therapeutics (TGTX – Research Report), retaining the price target of $11.00.
Alec Stranahan has given his Sell rating due to a combination of factors impacting TG Therapeutics. The company’s recent earnings report showed a decline in stock value by 13.3% after results that were mostly in line with expectations, suggesting potential concerns about future growth. Although the revenue guidance for Briumvi in 2025 appears achievable, the fact that repeat prescriptions have now surpassed new prescriptions could indicate a slowdown in new patient acquisition.
Additionally, the competitive landscape poses challenges, with subcutaneous options from competitors like Ocrevus Zunovo and Kesimpta offering more convenience, which could impact Briumvi’s market uptake. While TG Therapeutics is working on programs to enhance Briumvi’s dosing regimens, the expected impact is minimal compared to the convenience offered by competitors. Furthermore, the company’s pipeline developments are more of a long-term story, with significant valuation impacts not expected until 2026 or 2027. These factors contribute to the view that the long-term market opportunity for Briumvi is overvalued, justifying the Sell rating.
Stranahan covers the Healthcare sector, focusing on stocks such as Novavax, TG Therapeutics, and Candel Therapeutics. According to TipRanks, Stranahan has an average return of -10.2% and a 41.15% success rate on recommended stocks.