Shares in the penny stock of TG Therapeutics Inc. (OTC: TGTX) should see a boost headed into 2013 after analysts at Ladenburg Thalmann initiated coverage today. The biopharamceutical developers of TGR-1202, a highly specific, orally available PI3K delta inhibitor have yet to book any revenues this year, yet the development rights to AST-726, a nasally delivered product for the treatment of Vitamin B12 deficiency, and AST-915, an orally delivered treatment for essential tremor could soon open the door for that to happen. With Wall Street analysts now stepping up to the plate with a “buy” rating and a $6.00 price target on TGTX stock, the 188.46% potential upside is a good reason to add it to the long list of penny stocks to watch for 2013.
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TGTX Stock Chart
Market Cap: 52.12M
Last: 2.08, up 0.03 (1.46%)
Volume: 14,072
Dollar Volume: $34,275
High: 2.09
Low: 2.05
Trades: 18
Average Trade Size: 781
Authorized: 500,000,000
Issued and Outstanding: 25,058,995
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After a 56.25-for-1 reverse split back on April 30, 2012, trading on TG Therapeutics has all but dried up. On the flip side, the Company’s activities have heated up. A few hours ago, the biopharma company initiated a Phase I/II trial to evaluate the safety, tolerability and efficacy of TG-1101, the company’s novel third-generation anti-CD20 monoclonal antibody, in combination with lenalidomide (Revlimid® for patients with relapsed or refractory B-cell lymphoid malignancies who were previously treated with anti-CD20 antibody therapy.
Revenues may come sooner than expected though which may have been the cause for the coverage initiation by the Wall Street analysts (see here). Last month, TG Therapeutics entered into an exclusive licensing agreement with Ildong Pharmaceutical Co. Ltd. for the development and commercialization of the Company’s novel anti-CD20 antibody, Ublituximab (TGTX-1101) in South Korea and Southeast Asia. While cash was $17,373,866 as of September 30, 2012, the chances of shares being sold to support the Company may be avoidable as long as some form of money making drug can come from the licensing agreements already existing.
About TGTX Stock
TG Therapeutics Inc. is a biopharmaceutical company focused on the acquisition, development and commercialization of innovative and medically important pharmaceutical products for the treatment of cancer and other underserved therapeutic needs. The Company is focused on acquiring rights to these technologies by licensing or otherwise acquiring an ownership interest, funding their research and development and eventually either out-licensing or bringing the technologies to market. Click here to view the SEC filings for TGTX, here to view their product pipeline.
Bottom Line: Biotech penny stocks like TGTX are only for those who can buy and forget they own it. The waiting period involved sometimes can be years, not months which increases the risk of money being tied up into a “maybe.” Whether traders take advantage of the new coverage initiation or not will have little effect to the short term price of TGTX stock until some breaking news event moves it.
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