Why the BRIUMVI trial milestone matters for TG Therapeutics stock

TG Therapeutics (TGTX) has completed enrollment in a Phase 3 trial testing a subcutaneous version of BRIUMVI in adults with relapsing multiple sclerosis. This milestone could influence expectations around convenience and potential label expansion.

This product update arrives with TG Therapeutics reporting US$616.3 million in revenue and US$447.2 million in net income, alongside a one-month share price return of 17.5% and a past three-month return of 14.2%.

The BRIUMVI trial update comes as TG Therapeutics shares trade at US$35.33, with a 1 month share price return of 17.5% and a 3 year total shareholder return of 56.1%. However, the 1 year total shareholder return shows a 4.4% decline, which points to strong longer term momentum but some recent pullback for holders.

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With TGTX shares up 20.7% year to date and trading at US$35.33 against an analyst price target of US$44.57, plus an indicated intrinsic discount of about 68%, investors may ask whether there is still a buying opportunity or whether expected growth is already reflected in the price.

Most Popular Narrative: 20.5% Undervalued

With TG Therapeutics last closing at $35.33 against a narrative fair value of $44.43, the current setup revolves around what has to happen in multiple sclerosis to close that gap.

The planned launch of subcutaneous (subcu) BRIUMVI is a significant upcoming catalyst, as it could unlock access to 35 to 40% of the anti-CD20 MS market segment currently dominated by self-administered therapies, greatly increasing BRIUMVI's addressable market and supporting long-term revenue growth.

Curious what kind of revenue ramp, margin reset, and future P/E multiple underpin that fair value gap, and how tightly earnings expectations have been wired into those projections.

Result: Fair Value of $44.43 (UNDERVALUED)

However, this hinges on BRIUMVI staying competitive and on TG Therapeutics managing payer pressure, either of which could quickly challenge that 20.5% undervalued story.

Next Steps

With optimism around BRIUMVI balanced by clear questions on execution and pricing pressure, it pays to look under the hood yourself and move quickly. To see how the positives and red flags stack up in one place, review the 4 key rewards and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.