Oppenheimer Reiterates Bullish Stance on TherapeuticsMD (TXMD) Following Business Update


TherapeuticsMD (NYSE:TXMD) CEO Robert Finizio and Co-founder Brian Bernick presented today at the 13th Annual Wells Fargo Securities Healthcare Conference in Boston. The management team provided a business update including initial results for the Imvexxy launch. Imvexxy, the lowest dose estrogen product available for VVA, was approved by the FDA in May with commercial launch of the 10mcg dose on August 6 and 4mcg dose expected in Sept.

Subsequently, Oppenheimer analyst Jay Olson reiterates an Outperform rating on TherapeuticsMD shares, with a price target of $14, which implies an upside of 120% from current levels. (To watch Olson’s stock picks, click here)

Olson wrote, “TXMD announced over 6,300 units of Imvexxy dispensed by pharmacies to be recognized as revenue, including 5,300 maintenance packs and 1,000 starter packs in one month since commercial launch. With another month remaining in 3Q, this compares well with our 3Q estimate of 10,000 units resulting in $455K in net sales which is roughly in line with consensus.”

“We’re impressed by early uptake of Imvexxy and encouraged by the potential for TX-001HR to treat menopausal symptoms with an Oct. 28 PDUFA and Annovera contraceptive ring launch in 2019. We believe early FDA approval of Annovera bolsters an already leading portfolio of differentiated women’s health products. Annovera is a one-year vaginal hormonal system for contraception. We believe this innovative portfolio of women’s health products is underappreciated,” the analyst added.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jay Olson has a yearly average return of 0.4% and a 46% success rate. Olson has a -2.2% average return when recommending TXMD, and is ranked #2931 out of 4872 analysts.

Olson is not the only fan of the biotech company on Wall Street, as TipRanks analytics exhibit TXMD as a Strong Buy. Based on 8 analysts polled in the last 3 months, 7 rate a Buy on TherapeuticsMD stock while only one recommend a Hold. The 12-month average price target stands at $14.75, marking a 132% upside from where the stock is currently trading. (See TXMD’s price targets and analyst ratings on TipRanks.)

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