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TXMD

TherapeuticsMD

$4.20

-0.16 (-3.67%)

07:17
04/18/19
04/18
07:17
04/18/19
07:17

Cantor reiterates $27 price target on TherapeuticsMD after Bijuva launch

Cantor Fitzgerald analyst Louise Chen reiterates an Overweight rating on TherapeuticsMD with a $27 price target after the company announced yesterday that it has launched Bijuva and signed a binding commitment letter for a $300M term loan. The analyst says both announcements underscore her positive investment thesis and belief that the peak sales potential for Imvexxy, Bijuva and Annovera are all underappreciated.

TXMD TherapeuticsMD
$4.20

-0.16 (-3.67%)

10/03/18
CANT
10/03/18
NO CHANGE
Target $27
CANT
Overweight
Cantor says TherapeuticsMD should have 'ample cash' through end of 2019
Cantor Fitzgerald analyst William Tanner believes some investors connected two of his prior comments about TherapeuticsMD disclosing ongoing labeling talks with the FDA regarding TX-001 and his foreseeing that the company would need to raise capital in the future and "jumped to" the conclusion that the company would raise capital after TX-001 approval, assuming that occurs. However, in an updated corporate presentation, the company noted a cash balance of $154.4M at the end of Q2 and Tanner projects cash of about $70M at the end of 2019 before the company becomes cash flow positive in the beginning of 2020. Tanner also noted that management has explained that their labeling talks disclosure was meant to take the topic off the table and prevent "awkward conversations" at Cantor's healthcare conference. The analyst, who now believes he was "dead wrong" in his assumption that the FDA talks disclosure may have been made to get "the stock moving," reiterates an Overweight rating and $27 price target on TherapeuticsMD shares.
12/11/18
CANT
12/11/18
NO CHANGE
Target $27
CANT
Overweight
FDA report highlights large opportunity for TherapeuticsMD, says Cantor
In a research note titled "Not Too Hot, Not Too Cold, Things Are Just Right at TXMD," Cantor Fitzgerald analyst Louise Chen keeps an Overweight rating on TherapeuticsMD with a $27 price target. The FDA released its "2018 Compounding Policy Priorities Plan," which underscores the "large and underappreciated" market opportunity for TherapeuticsMD' Bijuva, Chen tells investors in a research note. She points out that one of the priorities listed by the FDA includes: "Restricting Compounding of Drugs that are Essentially Copies of FDA-Approved Drugs." This is positive for Bijuva, says Chen. The analyst thinks the peak sales potential for the drug is $1B-plus.
01/07/19
CANT
01/07/19
NO CHANGE
Target $27
CANT
Overweight
TherapeuticsMD shares underappreciate three launches, says Cantor Fitzgerald
In a research note titled "I'm Vexxyed By TXMD's Stock Price," Cantor Fitzgerald analyst Louise Chen reaffirms an Overweight rating on TherapeuticsMD with a $27 price target. The execution of the Imvexxy, Bijuva and Annovera launches is underappreciated, Chen tells investors. She thinks peak sales could exceed "modest expectations for the three drugs that target large unmet needs." Discussions with two experienced OB-GYNs that have already prescribed Imvexxy and are excited to prescribe Bijuva and Annovera support a positive investment thesis on the stock, adds the analyst.
02/06/19
JEFF
02/06/19
DOWNGRADE
Target $5
JEFF
Hold
TherapeuticsMD assumed with a Hold from Buy at Jefferies
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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