The dog and pony show is one of the great events in business, and it’s no exception for biotech stock TG Therapeutics (NASDAQ:TGTX). It announced plans to roll out a new show at an upcoming conference, which sent shares up 7% in Friday afternoon’s trading session. TG Therapeutics is preparing for next week when it will appear at the JPMorgan Healthcare Conference to show off some of its new advances.
There will likely also be a segment about Briumvi, which is poised to celebrate its first anniversary since its commercial launch. Briumvi is a treatment for multiple sclerosis and elevated the firm to something of a superstar status, able to compete with the likes of Novartis (NYSE:NVS) in the field.
Briumvi May Not be Living up to Its Expectations
Interestingly, even as Briumvi is about to celebrate a major milestone, there are some signs that it’s not living up to its expected performance as a flagship release. One report took a look at TG Therapeutics’ third-quarter numbers, and while they delivered on one front, they faltered on another significant front. TG Therapeutics delivered a revenue beat in the third quarter, but Briumvi’s sales didn’t have as much to do with it as some might think. Indeed, the report notes Briumvi has not done as well as it should have in the broader market. In fact, out of four quarterly reports, Briumvi by itself beat projected revenue twice and missed twice. Worse, the misses turned out somewhat larger than the beats, which isn’t good news.
Is TG Therapeutics a Good Stock to Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TGTX stock based on three Buys, one Hold, and one Sell assigned in the past three months, as indicated by the graphic below. After a 76.85% rally in its share price over the past year, the average TGTX price target of $23.50 per share implies 21.6% upside potential.
