TG Therapeutics (TGTX) Strong Growth and Good Value in Q4 2025

The biotechnology sector often presents investors with companies that combine rapid revenue growth with significant long-term potential. One company that has recently attracted investor attention is TG Therapeutics (NASDAQ: TGTX). Following its strong commercial launch of its multiple sclerosis treatment, the company has experienced rapid revenue expansion and improving profitability. Despite these improvements, the stock price has struggled over the past year, potentially creating an interesting opportunity for long-term investors. In this article we will dive into TG Therapeutics recent earnings, stock performance & valuation, growth potential, and the risks we should consider.

About TG Therapeutics

TG Therapeutics is a U.S.-based biotechnology company founded in 2012 and headquartered in New York. The company focuses on developing treatments targeting B-cells involved in autoimmune diseases and certain cancers. Its key product, BRIUMVI (ublituximab-xiiy), is a monoclonal antibody approved to treat relapsing forms of multiple sclerosis. Launched commercially in 2023, the drug offers a shorter infusion time than competing therapies, potentially improving patient convenience. TG Therapeutics is also developing a subcutaneous version of BRIUMVI that could allow patients to self-administer the treatment at home.

TG Therapeutics Financial Performance

TG Therapeutics delivered strong financial growth in its latest quarterly report. Revenue for Q4 2025 reached $192.57 million, compared with $108.19 million in Q4 2024, representing a 78% year-over-year increase. However, EPS for Q4 2025 was $0.14, slightly lower than $0.15 in Q4 2024, reflecting a 6.67% decrease. On a trailing twelve-month basis, revenue for Q4 2025 totaled $616.29 million, up from $329 million in Q4 2024, marking an 87.32% increase. TTM EPS surged to $2.77, compared with $0.14 in the previous year, showing significant improvement in profitability. The company maintains strong margins with a gross profit margin of 83.66% and a net profit margin of 72.56%. Profitability metrics also include a return on assets of 9.39% and an impressive return on equity of 102.75%, while the balance sheet remains manageable with a debt-to-equity ratio of 0.39.

Over the past five years, TG Therapeutics has grown its revenue at a 209.6% CAGR. Net income has turned positive with high margins, but 2025 is an outlier as the large net income is due to a tax benefit. TG Therapeutics has transitioned from a clinical-stage biotech company into a commercial one and is still projected to grow rapidly in 2026.

TG Therapeutics Fiscal 2026 Financial Forecast

Looking ahead, analysts forecast 2026 revenue of $897.41 million, representing 45.61% growth from 2025 revenue, while GAAP EPS for 2026 is projected at $1.34, a 51.7% decrease from 2025 EPS of $2.77. Wall Street analysts currently maintain a Buy rating, with an average price target of $44.43, implying 58.4% potential upside, while the highest price target of $60 suggests 113.9% potential upside.

TGTX Stock Price Performance and Valuation

At the time this article was written TG Therapeutics stock was trading at $28.05 per share, the stock has declined -25.3% over the past one year, significantly underperforming the S&P 500, which increased 21.6% during the same period. Over the past five years, the stock is down -43.7%, also underperforming the S&P 500, which gained 71.8%. 

However, this underperformance has resulted in a more attractive valuation. TG Therapeutics currently trades at a P/S TTM ratio of 6.85 and a forward P/S of 4.82, while the P/E TTM ratio is 10.57 with a forward P/E of 21.88. Considering the company’s strong revenue growth and expanding commercialization of its flagship drug, these valuation levels appear relatively reasonable for a fast-growing biotechnology company. If the company continues to deliver strong revenue expansion and market adoption of its treatment increases, the current valuation could offer attractive upside potential for long-term investors.

TG Therapeutics Growth Potential

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

• Explosive Revenue Growth Driven by BRIUMVI Commercial Momentum
  TG Therapeutics demonstrated strong growth potential driven by the performance of its flagship therapy BRIUMVI (ublituximab-xiiy) for Relapsing Multiple Sclerosis (RMS), as highlighted in its Q4 and full-year 2025 earnings released on February 26, 2026. U.S. net product revenue for BRIUMVI reached $182.7 million in Q4 2025, representing about 20% sequential growth from Q3 and roughly 76% year-over-year growth. For the full year, U.S. sales totaled $594.1 million, a strong 92% increase compared with 2024.
  Growth has been supported by rising physician adoption, strong patient persistence, and an expanding prescriber base. Real-world clinical data also show meaningful reductions in relapse rates and MRI disease activity. With continued new patient starts and increasing market share in the competitive anti-CD20 segment, BRIUMVI is capturing a larger share of the multibillion-dollar MS treatment market, supporting sustained long-term expansion.
• Ambitious 2026 Revenue Guidance Signaling Sustained Acceleration
  TG Therapeutics raised its 2026 financial outlook in its Q4 2025 earnings report, highlighting strong confidence in continued business momentum and operating leverage. The company now expects total global revenue of $875–$900 million, including $825–$850 million in U.S. net product revenue from its flagship therapy BRIUMVI for Relapsing Multiple Sclerosis. This forecast represents substantial growth compared with 2025 totals of $616.3 million in overall revenue and $594.1 million in U.S. BRIUMVI sales.
  Management also anticipates Q1 2026 U.S. revenue of $185–$190 million despite seasonal headwinds. The outlook reflects strong new patient starts, expanding U.S. market penetration, and disciplined investment in commercial infrastructure, while operating expenses are projected around $350 million excluding manufacturing costs, reinforcing confidence in scalable growth, improving profitability, and long-term value creation.
• International Expansion via Strategic Partnerships Diversifying Revenue Streams
  TG Therapeutics is advancing a key component of its long-term growth strategy through the international expansion of BRIUMVI in partnership with Neuraxpharm. The therapy has received approvals in the European Union, United Kingdom, Switzerland, Australia, Kuwait, and the United Arab Emirates for treating Relapsing Multiple Sclerosis. Ex-U.S. product supply sales contributed $12.8 million to full-year 2025 revenue, including $6.4 million in Q4, reflecting early progress as commercial launches expand.
  This rollout reduces reliance on the U.S. market while targeting the global MS population of more than 2.3 million patients. Continued collaboration with Neuraxpharm and strong U.S. demand support diversified revenue streams. As reimbursement approvals increase and physician adoption grows across new regions, international sales are expected to expand and complement the company’s projected $875–$900 million revenue outlook.

Risks to Consider

While TG Therapeutics looks like an undervalued stock, we should be mindful of potential risks.

• Heavy Dependence on a Single Product (BRIUMVI)
  TG Therapeutics currently relies heavily on a single product, BRIUMVI, for most of its revenue, making the company highly dependent on the drug’s commercial success. Any slowdown in prescription growth, loss of market share, or weaker-than-expected adoption in relapsing multiple sclerosis could significantly affect revenue and profitability. With limited diversification in the near term and only early-stage pipeline programs, maintaining strong sales momentum for BRIUMVI remains the company’s most critical business risk.
• Intense Competition in the Multiple Sclerosis Market
  The relapsing multiple sclerosis (RMS) treatment market is highly competitive, with established therapies such as Kesimpta from Novartis already generating multi-billion-dollar sales after approval. This intense competition could pressure BRIUMVI’s market share, pricing, and patient volumes. In addition, payer preferences, strong physician familiarity with existing treatments, and potential new drug entrants could limit growth and squeeze margins if BRIUMVI fails to match the commercial momentum of rival therapies.
• Regulatory, Clinical, and Pipeline Execution Risks
  Future growth for TG Therapeutics depends on successful clinical development and regulatory approvals for improvements such as a subcutaneous version of BRIUMVI and the Phase 3 ENHANCE study evaluating optimized IV dosing. The company is also exploring new indications like myasthenia gravis and progressive multiple sclerosis, along with additional pipeline programs. However, clinical delays, unfavorable trial results, regulatory challenges, or labeling changes could limit commercialization and reduce long-term growth potential.

Read More: Sezzle (SEZL) Strong Growth and Good Value in Q4 2025

Conclusion

TG Therapeutics shows strong fundamentals supported by rapid revenue growth, expanding profitability, and increasing adoption of its flagship multiple sclerosis treatment, BRIUMVI. Although the stock has underperformed the broader market in recent years, this weakness has created a more attractive valuation compared with its growth potential. With analysts expecting continued revenue expansion and significant upside based on current price targets, the company appears well positioned for long-term growth. Despite industry risks, TG Therapeutics still represents a promising opportunity for long-term investors.