Now That FDA Approved TG Therapeutics Multiple Sclerosis Treatment, Analyst Are Boosting Price Targets

  • Wednesday, the FDA approved TG Therapeutics Inc’s (NASDAQ: TGTX) Briumvi (ublituximab-xiiy) for relapsing forms of multiple sclerosis (RMS).

  • Briumvi is the first and only anti-CD20 monoclonal antibody approved for RMS that can be administered in a one-hour infusion following the starting dose.

  • TG expects to launch Briumvi in the U.S. in 1Q23 commercially.

  • HC Wainwright reiterates a Buy rating for the stock with a price target of $24, up from $19.

  • The analyst writes that a faster infusion time could enable Briumvi to gain share quickly, and there could be a large opportunity in this indication for a small disruptive sales force.

  • In the U.S., it is estimated that the top 550 accounts account for >70% of patient volume. A potential European approval could occur in late 2023.

  • Management has previously noted that about 20% of the global MS sales market for CD20 inhibitors could come from Europe, with the German market being the most important.

  • Management has not yet decided whether it will partner with Briumvi in Europe or go alone.

  • HC Wainwright estimates sales of $46.1 million in 2023 for Briumvi in MS, growing to $558.8 million in 2028.

  • Price Action: TGTX shares are up 18.30% at $10.01 on the last check Thursday.

Latest Ratings for TGTX






Jan 2022

HC Wainwright & Co.



Jan 2022

HC Wainwright & Co.



Dec 2021

Evercore ISI Group



View More Analyst Ratings for TGTX

View the Latest Analyst Ratings

See more from Benzinga

Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga does not provide investment advice. All rights reserved.