TG Therapeutics Q2 product revenue rises 70% on BRIUMVI sales
TGTX•Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"
- The average consensus recommendation for the pharmaceuticals peer group is "buy"
- Wall Street's median 12-month price target for TG Therapeutics Inc is $74.00, about 42.2% above its July 31 closing price of $52.03
- The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 20 three months ago
Quarterly results
- U.S. biotech's Q2 product revenue rose 70% yr/yr, driven by BRIUMVI sales
- Q2 net income and EPS declined from the prior year as expenses increased
Result drivers and key details
- BRIUMVI sales growth - Co said Q2 revenue growth was driven by a 64% yr/yr increase in U.S. BRIUMVI net product revenue
- Commercialization expenses - Co attributed higher SG&A costs to increased marketing, media spend, and personnel for BRIUMVI commercialization
- Pipeline and manufacturing costs - Co said higher R&D expenses were due to subcutaneous BRIUMVI manufacturing and expanded clinical trial activity
| Metric | Actual |
|---|---|
| Q2 Product Revenue | $235.79 mln |
| Q2 EPS | $0.05 |
| Q2 Net Income | $7.78 mln |
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