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Fly News Breaks for February 6, 2019
TXMD
Feb 6, 2019 | 07:54 EDT
Jefferies analyst Chris Howerton assumed coverage of TherapeuticsMD and downgraded his firm's rating to Hold from Buy. He also dropped the stock's price target to $5 from $15. While recognizing the company's large total addressable market, the analyst is cautious on the commercial success of TherapeuticsMD' assets due to a mature market and their "relatively low innovation." Further, he expects erosion of the hormone replacement therapy market for vasomotor symptoms with "innovative therapies" expected to come to market in the next five years.
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