Cantor Fitzgerald notes that a top investor question the firm gets on TG Therapeutics (TGTX) is about strategic interest and who could be the potential acquirers, adding that Biogen (BIIB) is "often highlighted as one of the suitors." In that context, the firm highlights that Biogen management pointed on its Q1 earnings call to a desire for external growth to transition the declining MS franchise and "the inclination to do revenue-generating deals in the near-term," according to Cantor. TG "checks several of these attributes" and the firm thinks the M&A premium "that is baked into TG stock will continue to increase" if the Briumvi launch continues to progress well, the analyst tells investors. Cantor has an Overweight rating and $24 price target on TG Therapeutics shares.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on TGTX:
- TG Therapeutics to present data from ULTIMATE I & II Phase 3 trials of BRIUMVI
- TG Therapeutics price target raised to $28 from $24 at H.C. Wainwright
- TG Therapeutics Blasts Up on Analyst Praise
- BofA questions relevance of Briumvi tracking to Q1 beat, says TG move ‘overdone’
- TG Therapeutics Announces Positive CHMP Opinion for BRIUMVI™ (ublituximab-xiiy) for the Treatment of Relapsing Forms of Multiple Sclerosis in Adults