TG shares under-reflect Briumvi potential, says JPMorgan

JPMorgan analyst Eric Joseph keeps an Overweight rating on TG Therapeutics with a $21 price target after the FDA approved Briumvi for the treatment of relapsing forms of multiple sclerosis. The analyst says that while pricing remains an outstanding question, he anticipates an initial wholesale acquisition cost inline with currently approved anti-CD20 mAb’s, or $71,000 annually. Joseph continues to see current TG share levels as "under-reflecting" the commercial potential of Briumvi at conservative market share assumptions, "with faster infusion times driving a compelling value proposition to both providers and patients."