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Fly News Breaks for October 14, 2016
TGTX
Oct 14, 2016 | 07:12 EDT
In a research note titled "The Best Way to Pull Off a Band Aid Is Quickly," H.C. Wainwright analyst Andrew Fein says the changes TG Therapeutics announced yesterday to the GENUINE study were "necessary, timely, and, generally, should have not been a surprise" based on the last two quarterly updates. The protocol changes effectively dissolve the Special Protocol Agreement covering the study, which does increase the perceived regulatory risk even upon a study win, Fein tells investors in a research note. He lowered his price target for TG shares to $18 from $22 and keeps a Buy rating on the name. The analyst notes that removing the GENUINE program from his valuation would lead to a $16 price target.
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