TherapeuticsMD (TXMD) is on its way to transitioning to a commercial-stage company. Recall, Imvexxy is approved for the treatment of moderate-to-severe vaginal pain during sexual intercourse (dyspareunia), a symptom of VVA due to menopause. Additionally, the company has recently received FDA approval of Annovera, its newly licensed contraceptive product. Finally, the company’s hormone therapy candidate TX-001HR has the potential to take over a very large opportunity in the bioidentical estrogen plus progesterone market. The TX-001 NDA was submitted in December 2017, setting the product to launch likely in early 2019 following an anticipated late October 2018 approval.
With that in mind, Oppenheimer analyst Jay Olson weighs in today on TherapeuticsMD, after meeting with management for an update on Imvexxy and plans for the potential TX-001HR and Annovera launches next year.
Olson noted, “The Imvexxy launch continues to impress with an initial trajectory on track to double the uptake of the most recent competitive launch. With the Oct. 28 TX-001HR PDUFA just over one month away, we suspect the company could enter FDA label negotiations by next week and may issue a press release to that effect assuming a quiet period would ensue. We continue to view TX-001HR as a significant opportunity with ~2x the peak sales potential compared to Imvexxy and, therefore, the dominant value driver for TXMD shares while Annovera represents an under-appreciated source of additional upside.”
As such, Olson reiterates an Outperform rating on TXMD, with a price target of $14, which implies an upside of 111% from current levels. (To watch Olson’s track record, click here)
The biotech firm now looks like a very compelling investing opportunity, as TipRanks analytics showcasing TXMD as a Strong Buy. With an average price target of $16, analysts are predicting massive upside potential of 142% for the stock. In total, TherapeuticsMD stock has received 7 Buy ratings with no Hold or Sell ratings in the last 12 months. (See TXMD’s price targets and analyst ratings on TipRanks)