Shares jump in response to an analyst upgrade.
Brian Feroldi
(TMFTypeoh)
Jul 11, 2017 at 11:14AM
What happened
After receiving some positive commentary from an analyst, shares of TherapeuticsMD (NYSEMKT:TXMD), a drug maker focused on women's health, rose 18% as of 11:00 a.m. EDT on Tuesday.
So what
Shareholders can thank Jay Olson, an analyst at Oppenheimer, for today's price action. Olson upgraded TherapeuticsMD stock from "Perform" to "Outperform" earlier today and gave shares a $10 price target. That target implies 100% upside from yesterday's closing price of just over $5.
Image source: Getty Images.
Olson's bullishness is based on the hope that the company's upcoming meeting with the FDA will produce positive results. He believes there's a better than average chance that the company will resubmit TX-004HR within the next few weeks. If true, that could mean the drug could be on the market in just a few months.
Given the upbeat projection and bullish price target, it's easy to understand why shares are rallying today.
Now what
We learned a few months ago that the FDA's rejection of TX-004HR was based on concerns about the lack of long-term endometrial safety data. At the time, management was adamant that the FDA did not bring up any concerns related to the drug's chemistry, efficacy, or manufacturing, which is why they believe they still had a realistic shot at regulatory success in the future.
Can management convince the FDA to give them another shot? Only time will tell. However, until we know more, I'm content to watch this story unfold from a safe distance.
Recent TXMD News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/26/2024 09:40:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 10:18:08 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/12/2024 09:16:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:10:09 PM
- TherapeuticsMD Announces Second Quarter 2024 Financial Results • Business Wire • 08/12/2024 08:05:00 PM
- Form AW - Amendment Withdrawal Request • Edgar (US Regulatory) • 06/14/2024 09:00:03 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 08:18:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/10/2024 08:15:43 PM
- TherapeuticsMD Announces First Quarter 2024 Financial Results • Business Wire • 05/10/2024 08:05:00 PM
- TherapeuticsMD Announces Full Year 2023 Financial Results • Business Wire • 03/29/2024 08:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/07/2023 09:51:56 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 12/06/2023 04:36:35 PM
- Form SC 13D/A - General statement of acquisition of beneficial ownership: [Amend] • Edgar (US Regulatory) • 11/17/2023 02:28:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/17/2023 02:27:23 PM
- TherapeuticsMD Announces Third Quarter 2023 Financial Results • Business Wire • 11/14/2023 09:05:00 PM
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