TG Therapeutics price target raised to $16 from $11 at Evercore ISI

Evercore ISI analyst Joshua Schimmer yesterday raised the firm’s price target on TG Therapeutics to $16 from $11 and keeps an Outperform rating on the shares after the FDA approved Briumvi for the treatment of relapsing forms of multiple sclerosis. The analyst was surprised the stock wasn’t up more on the news, "especially with the company indicating its cash position and access to modest incremental debt financing means it should be financed through mid-2024." The analyst believes Briumvi offers differentiation amongst the CD20 competitors in providing a shorter infusion time, which should appeal to some patients and to some specialists in the community setting.