TG Therapeutics initiated with a Buy at TD Cowen

TD Cowen analyst Tara Bancroft initiated coverage of TG Therapeutics (TGTX) with a Buy rating and $50 price target The company’s Briumvi is a best-in-class anti-CD20 for relapsing for forms of multiple sclerosis that could rival the “class giants” Ocrevus and Kesimpta, which achieved sales of $9B in 2023, the analyst tells investors in a research note. In the near-term, the firm expects continued launch momentum in Q3 with its $85M sales estimate ahead of consensus. Peak Briumvi U.S. sales could reach $3B, but more expansion strategies are ahead, contends TD.