TG Therapeutics Stock (TGTX) Great Growth and Good Value in Q3 2025

In the volatile world of biotech, few companies manage to combine rapid growth with a path toward sustainable profitability. Yet TG Therapeutics (NASDAQ:TGTX) appears to be doing exactly that. Its Q3 2025 results show a major revenue jump, a big swing in earnings per share, and a renewed sense of confidence from analysts. For investors, TG Therapeutics could represent a rare growth at a reasonable price opportunity. 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

Founded in 1993 and headquartered in Morrisville, North Carolina, TG Therapeutics is a commercial-stage biopharmaceutical company focused on developing and commercializing innovative therapies for B-cell mediated diseases, including autoimmune disorders and B-cell cancers. The company aims to advance B-cell biology to deliver impactful treatments through internal development and strategic partnerships. Its lead product, BRIUMVI, is approved for relapsing multiple sclerosis, supported by a growing pipeline that includes CAR-T therapies and additional antibody-based treatments.

TG Therapeutics Financial Performance

TG Therapeutics delivered an exceptional financial performance in Q3 2025, highlighted by strong revenue and earnings growth. Revenue for the quarter reached $161.71 million, a 92.79% increase from $83.88 million in Q3 2024. Quarterly EPS surged to $2.43, up sharply from just $0.02 a year earlier. On a trailing-twelve-month basis, revenue climbed to $531.9 million, rising 100.88% from $264.79 million, while TTM EPS improved significantly to $2.78 compared to –$0.10 in Q3 2024. Profitability remained strong with Gross profit margin of 85.34% and Net profit margin of 84.13%. The company also showed solid efficiency metrics, posting a Return on assets of 7.97% and a notably high Return on equity of 111.96%, supported by a healthy 0.42 debt-to-equity ratio.

Over the past five years, TG Therapeutics has been transforming from a clinical-stage biotech into a commercial one. Revenue and net income have grown rapidly since BRIUMVI’s approval in 2022, and the high net profit margin of more than 80% is remarkable.

TG Theraputics Fiscal 2025 Financial Forecast

Looking ahead, analysts forecast 2025 revenue of $606.03 million, representing an estimated 84.2% increase from 2024 $329 million, and expect 2025 EPS of $2.88, up significantly from $0.15 in 2024. Wall Street analyst maintains a bullish outlook, with consensus Buy rating giving an average price target of $44.29 representing upside potential of 33.16% and a highest target of $60, implying an upside potential of 80.4%.

TGTX Stock Price Performance and Valuation

At the time this article was written, TG Therapeutics stock was trading at $33.26. TGTX stock has experienced a –4.4% decline over the past year, underperforming the S&P 500’s 13.4% increase during the same period. Over the longer five-year horizon, the stock has risen 16.1%, yet still underperformed the S&P 500’s substantial 84.7% gain. 

Despite this weaker price performance, the company’s valuation remains appealing, supported by a Price to sales P/S ratio (TTM) of 9.17, forward P/S of 8.06, Price to earnings P/E (TTM) of 12.04, and forward P/E of 11.59. For a fast-growing biotech company with rapidly expanding revenue, strong profitability, and significant future earnings potential, these valuation metrics are relatively modest. This suggests that the market has not fully priced in the company’s strong fundamentals, making TG Therapeutics an attractive opportunity for investors seeking growth at a reasonable valuation.

TG Therapeutics Growth Potential

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

• BRIUMVI Revenue Acceleration and Market Expansion
  TG Therapeutics showcased exceptional BRIUMVI momentum in Q3 2025, with U.S. net sales hitting $152.9 million a robust 84% year-over-year increase from Q3 2024 and 10-15% sequential growth from Q2's $138.8 million. Total revenue reached $161.7 million, surpassing analyst estimates by 6.22%, prompting raised full-year guidance to approximately $585 million for U.S. BRIUMVI and $600 million globally.
  This acceleration stems from strong market penetration, physician adoption, 80% payer coverage for commercial and Medicare patients, and patient persistence rates exceeding forecasts in the multiple sclerosis landscape. Amid a global MS market expanding from $29.34 billion in 2025 to $39.39 billion by 2033 at 3.70% CAGR, BRIUMVI's one-hour IV infusion edges out Roche's three-hour Ocrevus, fueling market-share gains and positioning it as a key profitability driver.
• Subcutaneous BRIUMVI as a Transformational Growth Driver
  The Phase 3 trial for subcutaneous BRIUMVI is poised to become TG Therapeutics’ most important growth catalyst, with enrollment underway and potential approval expected in 2028. This new formulation could open access to the 35–40% of the anti-CD20 MS market dominated by self-administered therapies, effectively nearly doubling BRIUMVI’s addressable market. If approved, it would be the only anti-CD20 treatment offering both IV provider-administered and self-administered subcutaneous options, creating clear differentiation from Ocrevus and Kesimpta.
  TG Therapeutics is evaluating two dosing schedules every 8 weeks and every 12 weeks with enrollment expected to complete in the first half of 2026 and data readouts in late 2026 or early 2027. Strong patient interest and enrollment momentum support management’s confidence in significant long-term revenue upside.
• Strategic Pipeline Advancement and Simplified Dosing Regimen
  TG Therapeutics is advancing multiple clinical programs shaping future growth with launches planned for 2027-2029. The Phase 3 ENHANCE trial completed enrollment, evaluating a simplified IV BRIUMVI dosing that consolidates Day 1 (150 mg) and Day 15 (450 mg) infusions into a single 600 mg dose, maintaining bioequivalent exposure. This streamlined regimen promises greater convenience for patients and healthcare providers, with pivotal data expected by mid-2026 and potential 2027 launch.
  Additionally, the company is developing azer-cel, an allogeneic CAR-T therapy in Phase 1 for progressive multiple sclerosis, targeting an underserved patient population, with manufacturing partnership secured. Early positive results for BRIUMVI in myasthenia gravis suggest expansion into adjacent indications. These diverse pipeline initiatives broaden revenue sources, reduce reliance on BRIUMVI’s peak sales, and position the company as a leader in immunotherapy innovation.

Risks to Consider

While TG Therapeutics present a good investment case, we should be mindful of potential risks.

• Reliance on Single Product BRIUMVI
  BRIUMVI accounts for nearly all of TG Therapeutics revenue, with Q3 2025 U.S. net sales reaching $152.9 million out of $161.7 million total, leaving the company highly exposed to any slowdown in demand, safety concerns, or payer pushback. This reliance increases vulnerability, as competitive pressure or clinical setbacks could significantly impair momentum, even as management raises 2025 revenue guidance to $585 million.
• Intensifying Competition in the MS Market
  TG Therapeutics faces significant hurdles in the fierce multiple sclerosis market, threatening BRIUMVI’s path to $1 billion in peak sales. Rivals like Novartis’ Kesimpta and Roche’s Ocrevus are leveraging convenient subcutaneous and oral alternatives to capture market share. Furthermore, emerging entrants and payer preferences for lower-cost, at-home options add pressure. These competitive forces collectively jeopardize BRIUMVI’s growth potential, making the company's ambitious revenue targets increasingly difficult to achieve.
• Regulatory and Clinical Trial Uncertainties
  TG Therapeutics pipeline faces significant risks. The subcutaneous BRIUMVI Phase 3 ENHANCE trial completed enrollment in October 2025, aiming to offer a more convenient dosing option. However, delays or failures remain possible. Oncology candidates like TG-1701 also face regulatory hurdles. The 2022 withdrawal of Ukoniq, due to high mortality risks, underscores ongoing FDA scrutiny over safety and efficacy, posing continued challenges for TGTX's development programs.

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Conclusion

TG Therapeutics presents a compelling blend of strong growth and reasonable valuation. The company’s rapidly expanding revenue, rising profitability, and improving financial metrics highlight its transition into a stronger commercial-stage biotech. Although recent stock performance has lagged broader markets, its solid fundamentals, high-margin business model, and promising long-term outlook support meaningful upside potential. With analyst forecasts remaining positive and valuation still attractive, TG Therapeutics stands out as a promising investment opportunity for growth-focused investors.

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