TGTX
screen pass · no fair value yet — WATCHTG THERAPEUTICS, INC.·Healthcare
Screens well, but the council hasn't valued it yet.
65/100B
Price at last run$56.61as of Jul 8, 2026
healthcareHigh returns on capitalROIC ~12% — it earns well on the money it puts to work.
Fat operating margins20% operating margin — pricing power / a real moat hint.
GrowingRevenue growing ~87%.
Clean balance sheetLow leverage (debt/equity 0.00).
Catalystnone yet
✕Why not
The honest case against — what most tools hideMain riskno obvious red flag
Accruals-quality red flagEarnings not cash-backed — high Sloan accruals (net income well above operating cash flow); a shadow signal, not yet a hard veto.
What keeps us out
- Paying up here — we'd want a better entry price.
- Growth slowing while the multiple stays rich.
Patience price & distance
as of Jul 8, 2026 runThe patience price is where value discipline would let the council in — deliberately strict: we'd rather miss ten winners than own one loser.
Catalyst
none yet
A catalyst is a plausible reason the gap could close — never a certainty.
Forensic read
earnings quality · filingsAccruals qualityobservational (shadow)
Earnings are running ahead of the cash that backs them (high Sloan accruals) — a documented quality warning.
Shadow signals are watched and recorded, but they do not by themselves change the verdict — only a hard veto does.