TG Therapeutics Stock Plunged As H.C. Wainwright Cuts Target Price After Disappointing Q2

H.C. Wainwright has lowered TG Therapeutics Inc's TGTX price target to $84 from $89 and keeps a Buy rating on the stock.
Analyst Edward White mentioned that Ukoniq (umbralisib) revenue of $1.5 million was lower than expected in Q2. He believes gaining access to customers due to COVID-19 could remain a challenge into 2022.
Ukoniq is indicated for relapsed or refractory marginal zone lymphoma who have received at least one prior anti-CD20 based regimen.
The Company posted a wider than anticipated Q2 net loss of $(0.59) per share, well below the consensus loss $(0.50).
Cash, cash equivalents, and investment securities were $456.2 million, which the Company believes will be sufficient to fund the Company's planned operations into 2023.
Price Action: TGTX shares are down 19.9% at $28.10 during the premarket session on the last check Monday.

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