B.Riley has reiterated a Buy rating on TG Therapeutics and maintained a $55.00 price target on the stock (NASDAQ:TGTX), highlighting continued momentum for Briumvi, the company’s multiple sclerosis therapy. The firm points to robust prescription trends and recent preliminary sales figures as the basis for its view, noting the price target implies material upside from the stock’s current trading level of $29.73 and aligns with a consensus stance of Strong Buy.
Prescription metrics for Briumvi in the fourth quarter of 2025 show meaningful sequential gains, with new prescriptions rising roughly 5% and total prescriptions increasing about 15% quarter-over-quarter. Those gains outpaced competitors Kesimpta and Ocrevus within the anti-CD20 intravenous segment, suggesting the drug is continuing to capture share among therapies in that class.
Preliminary U.S. fourth-quarter Briumvi sales were reported at $182 million, topping analyst expectations and representing 20% sequential growth from the third quarter. That outperformance helped drive fiscal year 2025 U.S. Briumvi revenues to $594 million, an approximately 90% increase versus the prior year. InvestingPro data included in the analyst note underscores TG Therapeutics’ revenue acceleration, showing 100.88% revenue growth over the last twelve months and a gross profit margin of 85.34%.
Management has issued fiscal year 2026 guidance for U.S. Briumvi sales in a range of $825 million to $850 million. B.Riley characterizes this guidance as easily attainable, given the company’s reported trajectory of new patient initiations and the stacking effect created by maintenance patients remaining on therapy. On an annualized fourth-quarter run-rate basis, the 2026 target implies roughly 15% growth.
Looking to catalysts, the firm highlights several potential data-driven milestones in 2026 that could reduce patient burden and further support Briumvi adoption. These include mid-2026 top-line results from the Phase 3 ENHANCE study, Phase 3 data for a subcutaneous formulation of Briumvi expected by year-end or in the first quarter of 2027, and preliminary Phase 1 data for a cell therapy candidate, azer-cel, in progressive MS anticipated in the second half of 2026.
Investors awaiting additional company detail can look to the next earnings report on March 3. For subscribers, InvestingPro’s Pro Research Report is noted as providing supplemental analysis, including more than ten ProTips and detailed financial modeling on the company, which carries a stated market capitalization of $4.35 billion.
In related corporate disclosures, TG Therapeutics released preliminary full-year 2025 results showing approximately $616 million in total global revenue. Of that total, BRIUMVI generated about $594 million in U.S. net product revenue for the year, with the $182 million figure reported for the fourth quarter. The company’s 2026 sales guidance for BRIUMVI sits between $825 million and $850 million, aligning with consensus estimates at the upper end and exceeding some investor expectations amid concerns about fourth-quarter claims data.
On the research front, Cantor Fitzgerald maintained an Overweight rating on TG Therapeutics, with analyst Prakhar Agrawal reaffirming a constructive stance. Separately, the company plans data presentations at the upcoming Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) annual forum. Those presentations will include findings from the ENABLE study, which examines real-world infusion experiences with ublituximab in patients with relapsing multiple sclerosis, and will be presented by Dr. Carrie Hersh of the Cleveland Clinic.
Taken together, the prescription dynamics, preliminary sales outperformance, and forward-looking catalysts underpin B.Riley’s continued Buy recommendation and $55 target. The company’s revenue trajectory and margin profile, as cited in the analyst note, point to rapid growth against a backdrop of several clinical readouts that could influence future adoption and patient experience.