#3 - TG Therapeutics (NASDAQ:TGTX)
Biotechnology stocks are among the most heavily shorted stocks. And TG Therapeutics Inc. (NASDAQ: TGTX) is an example of that. As of March 31, 2024, TGTX stock has 24.7% of its float sold short.
TG Therapeutics develops and commercializes treatments for multiple sclerosis (MS) and other autoimmune diseases. TG Therapeutics launched its MS drug, BRIUMVI, in January 2023 and is generating significant revenue as a result. The drug has a wide moat, meaning there is a hard barrier to entry for other companies. And it enjoys patent protection on BRIUMVI for a considerable time.
The price action in TGTX stock has been crazy in both directions in the past year. And with heavy short interest, that will be tough for retail investors to overcome. However, institutional investors are starting to come back into the stock, which could mean that the stock's 15% slump to start the year may be ready to reverse.
About TG Therapeutics
TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.
Read More - Current Price
- $32.20
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $40.67 (26.3% Upside)
