TG Therapeutics (TGTX)
NASDAQ:TGTX
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TG Therapeutics
(NASDAQ:TGTX)
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Rating:73Outperform
Price Target:
$48.00
▲(35.86% Upside)
Action:Upgraded
Date:05/09/26
The score is driven primarily by strong reported profitability and a low-leverage balance sheet, supported by an upbeat earnings call with raised guidance and continued commercial momentum. The main constraint is weak cash-flow quality (negative operating/free cash flow despite net income), while technically the stock is in a clear uptrend but looks overbought; valuation is also demanding with a high P/E.
Positive Factors
High margins & profitability
Sustained high gross and net margins reflect strong pricing power and favorable cost structure for BRIUMVI. Durable margin profiles support operating leverage as revenue scales, enabling reinvestment, debt avoidance, or shareholder returns even if top-line growth normalizes.
Negative Factors
Weak cash generation
Persistent negative operating and free cash flow creates a disconnect between reported earnings and cash realization, signaling working‑capital or noncash drivers. Until cash conversion improves, earnings quality and the company’s ability to self‑fund investments remain constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
High margins & profitability
Sustained high gross and net margins reflect strong pricing power and favorable cost structure for BRIUMVI. Durable margin profiles support operating leverage as revenue scales, enabling reinvestment, debt avoidance, or shareholder returns even if top-line growth normalizes.
Read all positive factors
TG Therapeutics (TGTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.51B
Dividend YieldN/A
Average Volume (3M)1.99M
Price to Earnings (P/E)60.7
Beta (1Y)0.70
Revenue Growth81.26%
EPS Growth1079.73%
CountryUS
Employees352
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)3.18
Shares Outstanding153,083,570
10 Day Avg. Volume1,624,425
30 Day Avg. Volume1,994,869
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)6.64
Price to Sales (P/S)6.98
P/FCF Ratio-172.18
Enterprise Value/Market Cap0.94
Enterprise Value/Revenue8.75
Enterprise Value/Gross Profit10.54
Enterprise Value/Ebitda39.06
Forecast
1Y Price Target
$44.25Price Target Upside25.25% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)1.3
Revenue Forecast (FY)$935.26M
TG Therapeutics Business Overview & Revenue Model
Company Description
TG Therapeutics, Inc., a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. Its therapeutic product candidates include Ubl...
How the Company Makes Money
TG Therapeutics primarily makes money through product revenue from the sale of BRIUMVI in the United States. Revenue is generated by supplying BRIUMVI (a prescription biologic administered by infusion) into the healthcare channel (e.g., specialty ...
TG Therapeutics Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong, tangible commercial momentum: record Q1 revenue, 63% YoY U.S. growth, rising patient counts (25,000+), improved profitability, a robust cash position and aggressive share buybacks. Management also highlighted multiple near‑term clinical catalysts (ENHANCE, subcutaneous readouts) and longer‑term expansion opportunities (subcutaneous formulation, additional indications). Offsetting this optimism are near‑term expense increases (including ~$100M subcutaneous spend), a one‑time refinancing charge, notable gross‑to‑net/rebate pressure (~65% guidance), and clinical/regulatory timing and outcome risks for key lifecycle programs and the azer‑cel program. Overall, the positives (strong revenue beats, guidance raises, cash and buybacks, lifecycle catalysts, and supportive long‑term data) materially outweigh the listed challenges, though execution and trial outcomes remain critical to sustaining the trajectory.Positive Updates
Record Revenue and Guidance Upside
U.S. BRIUMVI net product revenue of ~$195M in Q1, above guidance of $185M–$190M and up 63% year-over-year; global revenue exceeded $200M and total revenue was $205M (including $3.6M license/royalty). Company raised full-year U.S. revenue guidance to $885M–$900M, full-year global revenue guidance to ~$925M, and is targeting Q2 U.S. revenue of ~ $220M. Management expects to approach a $1B annualized run rate before year-end.
Negative Updates
Rising Operating Expenses and R&D Investment
Q1 OpEx of ~ $117M (R&D + SG&A, excluding stock comp) increased year-over-year driven by a milestone payment under a collaboration and higher clinical costs. Company expects full-year OpEx of ~ $350M plus an incremental ~$100M of subcutaneous manufacturing/start-up spend, which will pressure near‑term operating results.
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Q1-2026 Updates
Positive
Negative
Record Revenue and Guidance Upside
U.S. BRIUMVI net product revenue of ~$195M in Q1, above guidance of $185M–$190M and up 63% year-over-year; global revenue exceeded $200M and total revenue was $205M (including $3.6M license/royalty). Company raised full-year U.S. revenue guidance to $885M–$900M, full-year global revenue guidance to ~$925M, and is targeting Q2 U.S. revenue of ~ $220M. Management expects to approach a $1B annualized run rate before year-end.
Read all positive updates
Company Guidance
TG Therapeutics raised its 2026 outlook after an outperformance in Q1: U.S. BRIUMVI net product revenue was approximately $195M in Q1 (above prior guidance of $185–190M), total net product revenue was $201M and total revenue was $205M; management now guides full‑year U.S. revenue of $885–900M and total global revenue of about $925M, with Q2 U.S. revenue targeted at ~ $220M and an annualized run‑rate toward $1B expected before year‑end. Financial guidance also includes full‑year operating costs of roughly $350M (R&D + SG&A, excl. stock‑based comp) plus ~ $100M for subcutaneous manufacturing and secondary manufacturer start‑up, a year‑average gross‑to‑net of ~65%, and Q1 OpEx of ~$117M; Q1 operating income was $34.8M and net income was $19.8M ($0.12/diluted). The company ended the quarter with ~ $573M in cash, repurchased >3M shares in Q1 (~$100M) and ~6.8M shares total to date at ~ $29 avg (~5% of shares), leaving ~153M shares outstanding, and noted >25,000 patients prescribed globally and 63% YoY U.S. growth; pipeline/timing guidance included ENHANCE top‑line and Phase I bioavailability data in the coming weeks, a fully enrolled subcu Phase III with top‑line around year‑end/early‑2027 and a potential 2028 subcu launch.TG Therapeutics Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 700.35M | 616.29M | 329.00M | 233.66M | 2.79M | 6.69M |
| Gross Profit | 581.60M | 515.57M | 290.52M | 219.11M | 2.52M | 5.90M |
| EBITDA | 156.88M | 134.36M | 49.90M | 26.10M | -213.11M | -341.97M |
| Net Income | 461.90M | 447.18M | 23.38M | 12.67M | -223.81M | -348.10M |
Balance Sheet | ||||||
| Total Assets | 1.53B | 1.06B | 577.69M | 329.59M | 193.57M | 379.63M |
| Cash, Cash Equivalents and Short-Term Investments | 514.43M | 141.97M | 311.00M | 217.51M | 161.68M | 314.76M |
| Total Debt | 753.56M | 260.73M | 253.72M | 110.80M | 83.06M | 79.05M |
| Total Liabilities | 945.71M | 415.23M | 355.33M | 169.09M | 134.99M | 142.48M |
| Stockholders Equity | 583.13M | 648.02M | 222.36M | 160.50M | 58.59M | 237.15M |
Cash Flow | ||||||
| Free Cash Flow | -14.19M | -24.99M | -40.56M | -31.41M | -176.18M | -296.04M |
| Operating Cash Flow | -13.95M | -24.77M | -40.52M | -31.41M | -176.17M | -295.63M |
| Investing Cash Flow | 16.87M | 13.80M | -1.04M | -50.65M | -20.01M | -332.00K |
| Financing Cash Flow | 307.20M | -89.73M | 128.53M | 72.70M | -391.00K | 41.42M |
TG Therapeutics Technical Analysis
Positive
35.33
Price Trends
30.77
Positive
30.70
Positive
31.95
Positive
Market Momentum
1.22
Negative
68.32
Neutral
70.71
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGTX, the sentiment is Positive. The current price of 35.33 is above the 20-day moving average (MA) of 33.02, above the 50-day MA of 30.77, and above the 200-day MA of 31.95, indicating a bullish trend. The MACD of 1.22 indicates Negative momentum. The RSI at 68.32 is Neutral, neither overbought nor oversold. The STOCH value of 70.71 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TGTX.
TG Therapeutics Risk Analysis
TG Therapeutics disclosed 74 risk factors in its most recent earnings report. TG Therapeutics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TG Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $6.51B | 60.65 | 87.36% | ― | 81.26% | 1079.73% | |
72 Outperform | $14.30B | 9.98 | 0.71% | ― | 9.20% | -94.01% | |
60 Neutral | $11.53B | -33.52 | -260.01% | ― | 63.88% | 35.18% | |
54 Neutral | $8.10B | -18.44 | -42.78% | ― | ― | -37.66% | |
52 Neutral | $12.53B | -33.45 | -58.57% | ― | 47.40% | 32.85% | |
52 Neutral | $6.26B | -26.56 | -203.25% | ― | 58.67% | -11.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
TGTX
TG Therapeutics
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7.20
21.43%
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TG Therapeutics Corporate Events
Regulatory Filings and Compliance
TG Therapeutics Files Procedural 8-K on Financial Obligation
Neutral
Mar 20, 2026
TG Therapeutics filed a very limited Form 8-K current report that merely cross-references information from Item 1.01 into Item 2.03. The filing appears to be a technical or procedural disclosure update and does not provide substantive new informat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.