BofA questions relevance of Briumvi tracking to Q1 beat, says TG move ‘overdone’

BofA attributes strength in TG Therapeutics (TGTX) shares to scripts and sales data reported on Symphony Health Tracker that points to a March jump in sales of Briumvi compared to February, but the firm questions the reliability of the WAC AMT data point and questions the relevance as it contends that sales of about $4.5M "is still a small number" versus the about $1.7B reported by Roche (RHHBY) for Ocrevus in Q4. While acknowledging that investors are likely looking for ways to gauge the strength of the Briumvi launch, the firm views the stock reaction to the Symphony data as "overdone" and keeps an Underperform rating and $6 price target on TG Therapeutics shares.