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Sector Update: Healthcare Stocks End Broadly Lower; TherapeuticsMD Soars After FBR Capital Forecasts Big Jump in Share Price

By: MT Newswires
Posted: 7/8/2014 4:17:00 PM
Referenced Stocks: TXMD

Top Healthcare Stocks

JNJ -0.70%

PFE -1.12%

ABT -1.11%

MRK -0.60%

AMGN -0.17%

Healthcare stocks were lower this afternoon with the NYSE Healthcare Sector Index slipping about 0.9% and shares of healthcare companies in the S&P 500 also declining about 0.9% as a group.

In company news, TherapeuticsMD Inc. ( TXMD ) rallied Tuesday after analysts at FBR Capital today initiated coverage of the women's healthcare company with an Outperform rating.

But perhaps more important to today's surging share price was the research shop setting a $32 price target for the stock, suggesting a more-than-fourfold jump in the company's share price over the next year.

TXMD shares were up 32.5% at $5.47 apiece near the close, earlier climbing to a session high of $5.42 a share.

In other sector news,

(+) NURO, FDA clears the company to begin over-the-counter sales of its wearable device using electrical stimulation of sensory nerves to treat chronic pain.

(-) IPCI, Reports Q2 net loss of $3.1 million, or $0.14 per share, compared with a $1.8 million net loss during the same quarter last year. Revenue totaled $1.5 million during the quarter; it didn't record any revenue last year.