Noble Boosts PT on TherapeuticsMD (TXMD) to $13; Cites Positive Expectations for Europe Approval

Noble Financial is lifting its price target on TherapeuticsMD, Inc. (AMEX: TXMD) from $9 to $13, while maintaining a Buy rating on the name.

Analyst Nathan Cali is making the target adjustment on expectations of European regulatory approval and commercialization of firms three late stage hormone replacement therapies and amended prevalence data for Vaginal Atrophy.

Other observations made by the analyst:

• We believe that the European market is under penetrated with over 30 million women in menopause stages and that TherapeuticsMD products upon approval could be market expanders in Europe;

• In addition to lucrative US hormone therapy market, like US (505b2), Europe offers a risk mitigated abridged regulatory pathway; post phase III results in the US could be used in abridged application for European approval; and

• Specified regulatory guidelines US match guidelines in Europe for approval; combination estrogen/progesterone approval Europe and US based upon bioequivalence, hot flushes, duration of 12 weeks, endometrial biopsy'; already met bioequivalence in US.

For an analyst ratings summary and ratings history on TherapeuticsMD, click here. For more ratings news on the company, click here.

TherapeuticsMD closed at $4.69 yesterday.

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