TG Therapeutics Stock (TGTX) Great Growth and Good Value in Q2 2025

TG Therapeutics (NASDAQ: TGTX) delivered a standout performance in its Q2 2025 earnings, marked by exceptional revenue growth and bolstered by robust analyst optimism. Despite a mixed market reaction, the company’s underlying fundamentals, coupled with long-term growth prospects signal strong value positioning in the biotech space. In this article we will dive into TG Therapeutics recent earnings, stock performance & valuation, growth potential, and the risks investor should consider.

About TG Therapeutics

TG Therapeutics is a biopharmaceutical company founded in 1993, specializing in the development and commercialization of therapies for autoimmune and oncology indications. Its flagship product, BRIUMVI (for relapsing multiple sclerosis), has become a key revenue driver, particularly in the U.S. With a pipeline that includes innovative candidates such as subcutaneous formulations of BRIUMVI and a CAR-T cell program (azer-cel), the company positions itself not only as a commercial-stage performer but also as a clinical-stage innovator.

TG Therapeutics Financial Performance

In Q2 2025, TG Therapeutics (TGTX) delivered an exceptional financial performance, showcasing significant growth across key metrics. The company reported revenue of $141.15 million, a remarkable 92.13% increase compared to $73.47 million in Q2 2024, driven primarily by the strong uptake of its flagship therapy. Earnings per share (EPS) also surged to $0.17 from $0.04 a year earlier, representing an impressive 325% growth. On a trailing twelve months (TTM) basis, revenue reached $454.07 million, up 30.96% from $346.72 million in the same period last year. However, TTM EPS declined to $0.36 from $0.64, reflecting a 43.55% decrease, largely due to increased investment in commercialization and R&D. The company maintains strong profitability with a gross profit margin of 86.96% and a net profit margin of 13.31%, supported by solid returns, including a return on assets (ROA) of 9.72% and return on equity (ROE) of 26.63%. Its balance sheet remains healthy, with a debt-to-equity ratio of 0.92, indicating manageable leverage.

Over the past five years, TG Therapeutics has grown its revenue at a 492.3% CAGR, driven by the commercialization of BRIUMVI in 2023. Net income already turned positive in 2023 and continues to grow.

TG Therapeutics Fiscal 2025 Financial Forecast

Looking ahead, analysts project continued momentum, forecasting 2025 revenue of $588.95 million, representing a 79.01% increase from 2024’s $329 million, alongside a sharp rebound in profitability, with EPS expected to reach $0.75 a 402.21% jump from $0.15 in 2024. Reflecting this optimism, wall street analysts have assigned a Buy rating with an average price target of $40.50, implying a 39.85% upside, while the most bullish forecast sets a high target of $53, suggesting a potential 83.04% gain from current levels.

TGTX Stock Price Performance and Valuation

At the time this article was written, the stock was trading at $28.96 per share, reflecting a 24% increase over the past year, outperforming the S&P 500’s gain of 16.2% in the same period. However, looking at a longer horizon, the stock has risen only 18.2% over the past five years, significantly underperforming the broader market, where the S&P 500 gained 85.1% during the same timeframe. 

In terms of valuation, the company trades at a price-to-sales (P/S) ratio of 9.18 on a trailing twelve-month basis, with a more attractive forward P/S of 7.08. Similarly, the price-to-earnings (P/E) ratio stands at 79.2 based on trailing earnings but improves considerably on a forward-looking basis, with a forward P/E of 37.93 based on seeking alpha’s data.

Based on Fiscal.ai data, if we look at the valuation since 2024, the forward P/S is below the average, and the forward P/E is significantly below the average. This indicates potential undervaluation, as the forward P/E is relatively low compared to the company’s business growth rate.

TG Therapeutics Growth Potential

TG Therapeutics growth prospect remains strong, driven by several factors.

• BRIUMVI Commercial Excellence and Market Penetration
  BRIUMVI’s commercial growth is impressive, generating $138.8 million in U.S. net revenue in Q2 2025, up 91% year-over-year and 16% sequentially. This reflects strong uptake and accelerating adoption by healthcare providers and patients. Positioned as a best-in-class anti-CD20 treatment, BRIUMVI offers the lowest annual list price of $59,000 among branded multiple sclerosis therapies, providing a significant competitive edge. Its glycoengineered design allows efficient B-cell depletion at lower doses versus competitors like Roche’s Ocrevus.
  Clinical data reveal that 92% of patients remained free from disability progression over five years with near-zero relapse rates. This combination of high efficacy, affordability, and a strong safety profile positions BRIUMVI to gain substantial market share in the $31.5 billion global multiple sclerosis drug market, which is expected to grow to $47.97 billion by 2029 at an 11.1% CAGR.
• International Expansion and Revenue Diversification
  TG Therapeutics has effectively broadened its revenue base and mitigated geographic risk through successful international expansion. The company obtained regulatory approvals for BRIUMVI in key markets including the European Union, United Kingdom, Switzerland, and Australia via its strategic partnership with Neuraxpharm. This marks a significant milestone, as international markets offer important revenue diversification beyond U.S. reliance. The European multiple sclerosis drug market alone represents a multi-billion dollar opportunity with increasing demand for innovative treatments.
  Reflecting confidence in global growth, management raised full-year 2025 global revenue guidance to approximately $585 million, signaling meaningful international sales contributions. Neuraxpharm provides established commercial infrastructure across Europe, allowing efficient market access without heavy upfront investment in local sales forces. This expansion strategy enables TG Therapeutics to capitalize on the growing worldwide multiple sclerosis market and lays the foundation for future international product launches.
• Robust Pipeline Innovation and Product Lifecycle Management
  TG Therapeutics is committed to long-term growth through strategic pipeline innovation. In 2025, the company is advancing a subcutaneous formulation of BRIUMVI entering Phase 3 trials, enabling self-administration at least every other month and reducing patient treatment burden by eliminating infusion center visits. Additionally, the ENHANCE Phase 3b trial aims to optimize intravenous dosing by combining initial doses and reducing infusion times to 30 minutes, enhancing convenience.
  Beyond BRIUMVI, TG Therapeutics initiated Phase 1 trials for azercabtagene zapreleucel (azer-cel), an allogeneic CAR-T therapy targeting progressive multiple sclerosis, providing a novel treatment avenue for underserved patients. The company is expanding BRIUMVI development into other autoimmune diseases like myasthenia gravis, leveraging its mechanism across multiple indications. Reflecting these efforts, Q2 2025 research and development expenses rose to $31.8 million, signaling strong investment in innovation to drive future growth.

Risk to Consider

While TG Therapeutics stock looks attractive we should be mindful of potential risks.

• Reliance on BRIUMVI for Revenue
  TG Therapeutics heavily depends on BRIUMVI, its FDA-approved drug for relapsing forms of multiple sclerosis, which generated $138.8 million of the $141.1 million total revenue in Q2 2025. This concentration on a single product increases risk, as any issues—such as adverse clinical outcomes, regulatory setbacks, or competition—could significantly impact financial performance. The company’s pipeline, including TG-1701, Azer-Cel, and TG-1801, is still in early Phase 1 trials, meaning diversification of revenue streams is limited in the near term.
• Intense Competition in the Biotech Sector
  TG Therapeutics faces fierce competition from established therapies and new entrants in the multiple sclerosis and B-cell disorder markets. BRIUMVI competes with other anti-CD20 therapies, and its market share depends on maintaining physician confidence and patient outcomes. The company’s ability to differentiate its products and expand into new indications or markets is critical but challenging, given the presence of larger, well-funded competitors. Failure to gain or retain market traction could limit growth potential.
• Regulatory and Clinical Trial Risks
  The success of TGTX’s pipeline candidates (e.g., TG-1701, Azer-Cel, TG-1801) hinges on regulatory approvals and clinical trial outcomes, both of which are uncertain. In clinical trials, BRIUMVI showed a 48% incidence of infusion reactions and a 56% overall infection rate, including serious infections, which could raise safety concerns. Additionally, emerging risks from integrating AI technology into operations, such as navigating an evolving regulatory landscape, could complicate compliance and increase costs, potentially delaying or derailing drug development.

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Conclusion

TG Therapeutics (TGTX) delivered impressive Q2 2025 results, driven by strong revenue growth, improving profitability, and solid product momentum. With analysts projecting significant earnings expansion and a potential upside of up to 83%, the company’s growth story remains compelling. While its valuation is relatively high, forward metrics suggest improving efficiency and stronger profitability ahead. Supported by innovative therapies, expanding markets, and bullish analyst sentiment, TGTX offers an attractive opportunity for investors seeking long-term growth potential.