Theratechnologies stock holds steady as Jones Trading maintains rating

Investing.com - Jones Trading has reiterated its Hold rating on Theratechnologies Inc. (NASDAQ:THTX) following the company’s second-quarter 2025 earnings announcement. The company has shown impressive momentum, with InvestingPro data showing a 109% return over the past year and revenue growth of 13.5%.

The research firm maintained its rating on the biopharmaceutical company while noting that the full $1.19 contingent value right (CVR) is likely to pay out by the end of the three-year post-close period, assuming the acquisition with privately-held Future Pak closes.

Jones Trading believes Theratechnologies shares will trade range-bound between the upfront $3.01 per share cash offer and the full potential $4.20 per share including the CVR.

The firm cited the expected launch of EGRIFTA WR as a factor that should allow the company to increase sales growth and maintain positive momentum.

While acknowledging the possibility of a higher bidder emerging as Theratechnologies explores options, Jones Trading considers Future Pak’s offer fair and believes the deal is more likely to close than not.

In other recent news, Theratechnologies Inc. has been at the center of acquisition discussions with Future Pak, LLC, which has proposed to acquire the company for up to $255 million. The offer includes an initial cash payment of $205 million, with potential additional payments tied to the performance of Theratechnologies’ EGRIFTA franchise. Future Pak’s proposal values the shares between $3.51 and $4.50, representing a significant premium over a previous closing stock price. Despite this attractive offer, there has been minimal engagement from Theratechnologies, prompting Future Pak to make its intentions public to encourage shareholder consideration. In response to these developments, Jones Trading downgraded Theratechnologies from Buy to Hold, noting that the acquisition offer represents a fair price. The firm anticipates the deal will close by November 2025, with potential additional payouts to shareholders based on future profits. Future Pak’s proposal is supported by Colbeck Capital Management and involves financial and legal advisory from Bourne Partners Securities LLC and Honigman LLP, respectively. These recent developments indicate significant investor interest and potential changes in the company’s strategic direction.

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