TG Therapeutics (TGTX) Reports Early Azer Cel MS Data, Is It 17% Below Fair Value?

TG Therapeutics (TGTX) released early Phase 1 results for its allogeneic CAR T-cell candidate azer-cel in progressive multiple sclerosis, giving investors fresh clinical data to weigh against the existing MS franchise.

Against that backdrop, TG Therapeutics shares trade at US$57.98, with the stock giving up around 5.9% on the day but still posting a 30 day share price return of 11.1% and a year to date share price return of 98.0%. The 3 year total shareholder return is around 4.7x, which points to strong longer term momentum even as short term moves reflect investors recalibrating expectations around both existing BRIUMVI sales and the early azer cel readout.

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Bulls argue TG Therapeutics is building a differentiated MS platform, while bears see recent gains as fragile and over reliant on early data. Which side do the current numbers lean toward as valuation comes into focus?

Most Popular Narrative: 17% Undervalued

On the most followed view, TG Therapeutics is worth $69.71 a share versus the last close at $57.98, which puts the current MS story and emerging autoimmune optionality under a valuation spotlight.

The combination of high gross margins around the low to mid 80s, continued focus on controlling operating expenses alongside manufacturing investment, and an active share repurchase program that has already reduced the share count positions TG Therapeutics to translate future BRIUMVI revenue into higher net income and earnings per share over time.

See why 73 investors see TG Therapeutics as 17% undervalued.

Result: Fair Value of $69.71 (UNDERVALUED)

Still, the TG Therapeutics story can change quickly if higher manufacturing spend keeps pressuring margins or if governance investigations start to distract management execution.

Find out about the key risks to this TG Therapeutics narrative.

Next Steps

MS sentiment around TG Therapeutics is clearly split, which makes it even more important that you move fast and test the assumptions against the underlying data. To weigh both sides of the argument on your own terms, start with the 3 key rewards and 1 important warning sign.

Looking for more investment ideas beyond TG Therapeutics?

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