B. Riley remains a buyer of TG Therapeutics on weakness following Q3 results

B. Riley notes TG Therapeutics (TGTX) reported Q3 results, pointing to strong 15% sequential quarter-over-quarter growth in Briumvi U.S. sales, resulting in a Q3 beat. On the conference call, the company noted to be going away from its prior practice of reporting on TRx/NRx, which the firm thinks is contributing to intra-day equity weakness given these launch metrics have until recently been a high-confidence proxy for revenue. Management clarified for these to have lost predictive quality as hospitals now make up majority of revenue and remain the fastest growing segment, but this customer segment-related capture rate to TG hub is challenging. B. Riley says it remains a buyer on weakness today, and reiterates a Buy rating on the shares with a price target of $38.