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H.C. Wainwright reiterates TG Therapeutics stock buy rating on growth

Published 15/01/2025, 16:26
H.C. Wainwright reiterates TG Therapeutics stock buy rating on growth
TGTX
2.77%

On Wednesday, H.C. Wainwright reaffirmed a Buy rating on shares of TG Therapeutics (NASDAQ:TGTX) shares with a steady price target of $55.00. The firm's analyst highlighted the company's strong preliminary financial results for the fourth quarter and full year of 2024, with Briumvi U.S. net product revenue reaching $103.6 million for the quarter and $310 million for the year, which represents a significant increase from the previous year.

Briumvi, TG Therapeutics' novel treatment for relapsing forms of multiple sclerosis (RMS) in adults, saw its fourth-quarter revenue surge by approximately 160% compared to the same period in 2023. These figures exceeded both the company's forecast of $95.9 million for the quarter and $302.3 million for the year, as well as surpassing consensus estimates of $98.7 million for the fourth quarter and $303.9 million for the full year.

TG Therapeutics had given a sales guidance range of $300 million to $305 million for Briumvi in 2024, which itself was an upward revision from the $220 million to $260 million range provided earlier in the year.

Looking ahead, TG Therapeutics has set a target for total global revenue in 2025 at approximately $540 million, with Briumvi U.S. net product revenue expected to be around $525 million. The company has indicated that this figure is a preliminary estimate and that it may provide a more defined range later in the year.

Moreover, the firm has announced a target operating expense of roughly $300 million for 2025. Further guidance for the first quarter of 2025 is anticipated to be provided during the company's earnings call scheduled for February.

The company also reported a robust cash position of approximately $310 million at the end of 2024. H.C. Wainwright stands by its 2025 U.S. sales estimate for Briumvi of $525 million, reiterating its Buy rating and $55 price target for TG Therapeutics shares.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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