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Robust Research Pipeline May Drive TG Therapeutics’ Future Growth

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Sep. 25 2018, Updated 10:48 a.m. ET

TG Therapeutics’ target price

TG Therapeutics (TGTX) is a clinical-stage biopharmaceutical company mainly focused on developing innovative therapies for B-cell cancers such as chronic lymphocytic leukemia and non-Hodgkin’s lymphoma and for immunology conditions such as multiple sclerosis, lupus, and rheumatoid arthritis. 

The company has reported a return of 9.76% YTD (year-to-date) in 2018.

Of the six analysts covering TG Therapeutics in September, three have rated the company as a “strong buy,” and three have rated the company as a “buy.”

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The 12-month consensus analyst recommendation for TG Therapeutics as of September 23 is a “strong buy.” The 12-month consensus target price for TG Therapeutics is $29.17, 224.11% higher than the company’s closing price on September 21. The company’s closing price of $9.00 is 24.14% higher than its 52-week low of $7.25 and 48.13% lower than its 52-week high of $17.35.

Performance in the second quarter

In the second quarter, TG Therapeutics reported revenue of $0.04 million, which surpassed the consensus estimate by $0.01 million. The company reported EPS of -$0.59, which was $0.06 higher than the consensus estimate.

At the end of the second quarter, TG Therapeutics had cash and cash equivalents of $126.3 million on its balance sheet, significantly higher than the $109.2 million on its balance sheet at the end of the first quarter. This cash was attributable to $52 million raised in equity financing by the company in the second quarter.

TG Therapeutics expects its cash to sustain its operations until the second half of 2019. In the third quarter, the company expects to witness a cash burn rate similar to what it saw in the second quarter, while its cash burn is expected to gradually fall in the fourth quarter and in 2019.

In the next article, we’ll discuss growth prospects for Kura Oncology in greater detail.

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