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NEW YORK (TheStreet) -- TherapeuticsMD (TXMD - Get Report) surged Tuesday after FBR Capital initiated coverage on the pharmaceutical company with an "outperform" rating and a $34 price target.
FBR believes the company is well positioned to change the way in which doctors treat women with hormone replacement therapy. TherapeuticsMD's is developing its TX-001 HR for treating post-menopausal vasomotor symptoms such as hot flashes.
The stock was up 15.01% to $4.75 at 10:36 a.m. More than 5.8 million shares had changed hands, compared to the average volume of 1,167,370.