TG Therapeutics (TGTX)
NASDAQ:TGTX
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TG Therapeutics
(NASDAQ:TGTX)
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Rating:78Outperform
Price Target:
$56.00
▲(58.51% Upside)
Action:Reiterated
Date:06/13/26
The score is driven primarily by strong fundamental profitability and a significantly improved balance sheet, reinforced by an earnings call featuring guidance raises and strong commercial momentum. Technicals also support the rating with clear uptrend signals, though overbought readings add near-term risk. The largest constraint is persistent negative operating/free cash flow despite reported profits, with a smaller governance headwind from the failed say-on-pay vote.
Positive Factors
High Profitability
Sustained very high gross and net margins reflect strong product economics for BRIUMVI and operating leverage across the business. Durable margins support reinvestment in commercialization and R&D, underpinning long‑term ability to fund growth and return capital without reliance on price multiple expansion.
Negative Factors
Negative Operating Cash Flow
Persistent negative operating and free cash flow despite strong net income weakens earnings quality and signals working‑capital or non‑cash drivers. If cash conversion does not improve, the company may need to draw on reserves or alter capital plans, constraining durable self‑funding for growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained very high gross and net margins reflect strong product economics for BRIUMVI and operating leverage across the business. Durable margins support reinvestment in commercialization and R&D, underpinning long‑term ability to fund growth and return capital without reliance on price multiple expansion.
Read all positive factors
TG Therapeutics (TGTX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.15B
Dividend YieldN/A
Average Volume (3M)2.36M
Price to Earnings (P/E)16.6
Beta (1Y)0.68
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. Volume3,147,425
30 Day Avg. Volume2,362,487
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 Cap1.01
Enterprise Value/Revenue11.70
Enterprise Value/Gross Profit14.09
Enterprise Value/Ebitda54.57
Forecast
1Y Price Target
$46.60Price Target Upside31.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)1.29
Revenue Forecast (FY)$935.26M
TG Therapeutics Business Overview & Revenue Model
Company Description
Based in New York City and established in 1993, TG Therapeutics, Inc. is a biopharmaceutical company that has advanced to the commercial stage. Its core mission revolves around the acquisition, advancement, and marketing of novel therapeutic solut...
How the Company Makes Money
TG Therapeutics primarily makes money by selling its FDA-approved product BRIUMVI (ublituximab-xiiy). Revenue is generated through product sales to specialty pharmacies, distributors, or other healthcare-channel customers, which in turn supply inf...
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.
Read all updates
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 | 219.53M | 2.52M | 5.90M |
| EBITDA | 150.19M | 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
39.74
Positive
34.93
Positive
33.65
Positive
Market Momentum
3.55
Negative
83.02
Negative
91.24
Negative
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 below the 20-day moving average (MA) of 43.14, below the 50-day MA of 39.74, and above the 200-day MA of 33.65, indicating a bullish trend. The MACD of 3.55 indicates Negative momentum. The RSI at 83.02 is Negative, neither overbought nor oversold. The STOCH value of 91.24 is Negative, 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.15B | 16.64 | 87.36% | ― | 81.26% | 1079.73% | |
72 Outperform | $14.11B | 471.52 | 0.71% | ― | 9.20% | -94.01% | |
69 Neutral | $9.75B | -21.57 | -42.78% | ― | ― | -37.66% | |
60 Neutral | $12.89B | -68.11 | -260.01% | ― | 63.88% | 35.18% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $12.25B | -37.42 | -58.57% | ― | 47.40% | 32.85% | |
49 Neutral | $6.64B | -32.46 | -203.25% | ― | 58.67% | -11.45% |
* Healthcare Sector Average
TGTX
TG Therapeutics
53.22
16.66
45.57%
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RYTM
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96.79
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NUVL
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62.45%
TG Therapeutics Corporate Events
Executive/Board ChangesShareholder Meetings
TG Therapeutics Shareholders Reject Executive Compensation at Meeting
Negative
Jun 12, 2026
At its 2026 Annual Meeting held online on June 11, 2026, TG Therapeutics reported that stockholders representing 73.81% of outstanding shares were present, establishing a quorum, and elected six directors to serve until the 2027 annual meeting. Sh...
Business Operations and StrategyProduct-Related Announcements
TG Therapeutics reports positive data for subcutaneous BRIUMVI
Positive
Jun 3, 2026
On June 3, 2026, TG Therapeutics reported positive Phase 1 data for a high-concentration, low-volume subcutaneous formulation of BRIUMVI in patients with relapsing multiple sclerosis, showing favorable pharmacokinetics, robust B-cell depletion and...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
TG Therapeutics reports positive Phase 3 ENHANCE trial results
Positive
May 27, 2026
On May 27, 2026, TG Therapeutics announced positive topline results from its Phase 3 ENHANCE trial evaluating a consolidated single 600 mg Day 1 infusion regimen for initiating BRIUMVI in adults with relapsing forms of multiple sclerosis. The stud...
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.