BofA analyst Alec Stranahan raised the firm’s price target on TG Therapeutics (TGTX) to $11 from $10 and keeps an Underperform rating on the shares after Roche (RHHBY) announced that the phase 3 MUSETTE study failed to demonstrate a significant benefit for high-dose Ocrevus over the currently approved 600 mg dose. Ocrevus is a key competitor to TG’s Briumvi in multiple sclerosis, notes the analyst, who sees some benefit to near-term uptake for Briumvi following the readout, but expects the evolving competitive landscape to come into greater resolution over the course of 2025.
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