Les affaires / National Bank https://www.lesaffaires.com/bourse/analyses-de-titres/a-surveiller-amazon-imax-et-theratechnologies/615625/3
Original link of this publication this morning on TH. Its clear that Leno is in the category SHOW ME THE MONEY before showing some optimism.
For the english fellow here, the following is the translation of the french article.
Theratechnologies (TH, $ 3.56): recovery will be difficult
It was a year of misery for the pharmaceutical company of Laval, when its title, which is traded on the floors of Toronto and Nasdaq, lost half of its value in 2019. The title which touched $ 15 in the summer 2018 is only worth $ 3.56.
The weak title is largely due to the much weaker-than-expected sales of its drug Trogazo in the United States, says Endri Leno, an analyst at National Bank, in his annual report on forecasts for the health sector and biotechnology.
And the situation is likely to continue in 2020, according to the analyst who maintains his recommendation of "performance equal to the sector", but which lowers its target price from $ 6.00 to $ 5.75 while it tightens somewhat its longer term forecasts.
The recovery will be difficult, according to the analyst, who puts forward a forecast of US $ 41 million for sales of Trogarzo in 2020. He estimates that they were US $ 27 million in 2019. The company has launched a sales campaign directly to consumers six months ago, and the analyst prefers to wait to see the results of this initiative before issuing a more optimistic outlook.
Although he does not expect Europe to make a significant contribution to sales before 2021, the analyst will nevertheless closely monitor developments regarding the discussions concerning reimbursement of the drug in Germany, the United Kingdom, France, Spain and in Italy.
As for Theratechnologie’s second drug, EGRIFTA, the most significant element to watch, will be its potential use in the treatment of HIV. The company recently asked the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) to hold orientation meetings on this issue.
FTV.