BofA sees ‘bearish setup’ for TG Therapeutics into Briumvi launch

BofA analyst Alec Stranahan raised the firm’s price target on TG Therapeutics to $6 from $5 and keeps an Underperform rating on the shares. The analyst views the FDA approval of Briumvi as a positive, but says the focus now shifts to commercialization, where he continues to see a "bearish setup." A survey of 40 multiple sclerosis doctors concluded that there are "multiple hurdles ahead" for Briumvi, including Ocrevus’s superiority on multiple metrics and patient stickiness causing a hurdle to switch. The convenience factor is not enough to convince prescribers, Stranahan tells investors in a research note.