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Trading List: Dec. 1 - Updates & Analyst Actions - TGTX

TG Therapeutics selloff yesterday may be unwarranted, says B. Riley

Riley analyst Mayank Mamtani lowered the firm's price target on TG Therapeutics to $49 from $63 and keeps a Buy rating on the shares after learned that the FDA plans to host an Oncologic Drugs Advisory Committee meeting to further evaluate the benefit-risk profile of ublituximab and Ukoniq. The "knee-jerk" intra-day selloff yesterday may be unwarranted despite the likely approval delay, Mamtani tells investors in a research note. Separately, TG also reported that the applicatoin for ublituximab had been accepted in relapsing multiple sclerosis, which represents over 50% of the contribution to the $49 price target, says the analyst.

Our Take: "This is still our top pick! Market manipulation and fear seems to be at fault. The MS drug is the big one, and that is going full steam ahead. At this extremely oversold price, buy it!"

$TGTX, TG Therapeutics, Inc. / H1

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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