UPDATE: Noble Financial Keeps TherapeuticsMD (TXMD) at Buy Following TX 12-004HR Update; Reviewing PT

January 28, 2014 9:14 AM EST
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Price: $1.06 --0%

Rating Summary:
    12 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 24 | New: 41
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(Updated - January 28, 2014 11:46 AM EST)

Noble Financial maintains its Buy rating on TherapeuticsMD (AMEX: TXMD) and notes that its $7.25 price target is under review.

UPDATE - The firm is raising its price target from $7.25 up to $9 on reported PK results from a cross over study to evaluate the firms lead vaginal atrophy product, TX 12--004 HR estradiol soft gel versus Novo Nordisk's Vagifem (estradiol tablet), posted $320 million sales in 2013.

The rest of this report remains the same.

Ahead of the bell Tuesday, TherapeuticsMD reported the final PK results from two studies of TX 12-004-HR, a rapidly acting vaginal preparation capsule versus Novo Nordisk’s (NYSE: NVO) Vagifem (estradiol vaginal tablet). ESTR-1K-499 was an open label, single dose crossover, relative bioavailability study comparing 10µg of TX 12-004-HR to 10µg of Vagifem. ESTR-1K-500 was the study with the same design, but compared 25µg of TX 12-004-HR to 25µg of Vagifem. Study results showed substantially lower systemic estradiol exposure of TX 12-004-HR when compared to Vagifem. In conjunction with the previously reported efficacy of TX 12-004-HR, this PK data suggests that TX 12-004-HR may provide therapeutic advantages over Vagifem [emphasis ours].

Analyst Nathan Cali commented, Importantly, vaginal atrophy is more topical and less systematic, low levels of serum concentrations offer a safer therapeutic profile for patients, FDA has issued black box labeling warnings, suggests lowest effective dosing.

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

TherapeuticsMD closed at $5.66 yesterday, with a 52 week range of $1.65 - $6.06.


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