TG Therapeutics price target lowered to $30 from $35 at SunTrust

SunTrust analyst Peter Lawson lowered his price target on TG Therapeutics to $30 after the announcement that the independent Data Safety Monitoring Board for the ongoing Phase 3 UNITY-CLL trial in chronic lymphocytic leukemia, or CLL, patients advised that the data “was not mature enough” to read out the overall response rate. The analyst says the company has decided to not seek accelerated approval, which could delay market entry, focusing instead on the Progression-Free Survival endpoint to support approval. While Lawson remains bullish on the stock and maintains his Buy rating, he notes that his revised price target reflects the lower probability of success in the CLL program.
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