Theravance Biopharma Inc. (NASDAQ:TBPH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Theravance’s sole marketed product, Vibativ, continued to perform well, with the product growing year over year. Moreover, Theravance’s efforts on the commercialization of Vibativ are encouraging. We are also positive on the company’s efforts on label expansion of the drug, which if approved for additional indications, would be commercially significant. Further, its collaboration agreement with Mylan for revefenacin, a key late-stage pipeline candidate, is a big positive. Estimates have been moving up lately ahead of the company’s third-quarter 2016 earnings release. However, the company relies heavily on Vibativ for growth, which is concerning. As a result, lower-than-expected sales of the drug would hurt the company’s top line significantly. The company expects lot of activity on the pipeline front for the rest of 2016. Any hiccup on the development front could pull down the stock significantly.”
TBPH has been the topic of a number of other research reports. Robert W. Baird cut shares of Theravance Biopharma from a “neutral” rating to an “underperform” rating and boosted their price objective for the company from $19.00 to $24.00 in a research report on Wednesday, October 12th. Evercore ISI started coverage on shares of Theravance Biopharma in a research report on Monday, August 29th. They issued a “buy” rating and a $41.00 price objective on the stock. Leerink Swann reiterated a “buy” rating and set a $31.00 price target on shares of Theravance Biopharma in a research report on Tuesday, August 9th. Guggenheim reiterated a “positive” rating and set a $40.00 price target on shares of Theravance Biopharma in a research report on Monday, September 19th. Finally, Bank of America Corp. cut shares of Theravance Biopharma from a “neutral” rating to an “underperform” rating in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $35.40.
Shares of Theravance Biopharma (NASDAQ:TBPH) opened at 29.76 on Friday. The stock’s market cap is $1.42 billion. The firm has a 50-day moving average of $33.18 and a 200 day moving average of $25.51. Theravance Biopharma has a 1-year low of $12.87 and a 1-year high of $38.92.
Theravance Biopharma (NASDAQ:TBPH) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by $0.01. Theravance Biopharma had a negative net margin of 471.82% and a negative return on equity of 70.79%. Equities research analysts forecast that Theravance Biopharma will post ($4.03) earnings per share for the current year.
In related news, SVP Brett K. Haumann sold 9,509 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $27.97, for a total transaction of $265,966.73. Following the sale, the senior vice president now owns 197,391 shares of the company’s stock, valued at $5,521,026.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Bradford J. Shafer sold 49,122 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $27.46, for a total transaction of $1,348,890.12. Following the sale, the executive vice president now directly owns 241,686 shares in the company, valued at approximately $6,636,697.56. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
A number of large investors have recently bought and sold shares of TBPH. Cupps Capital Management LLC acquired a new stake in Theravance Biopharma during the third quarter valued at approximately $1,202,000. BNP Paribas Arbitrage SA increased its position in shares of Theravance Biopharma by 110.2% in the third quarter. BNP Paribas Arbitrage SA now owns 3,008 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 1,577 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Theravance Biopharma by 35.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 113,650 shares of the biopharmaceutical company’s stock valued at $2,579,000 after buying an additional 29,512 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Theravance Biopharma during the second quarter valued at about $255,000. Finally, Panagora Asset Management Inc. increased its position in shares of Theravance Biopharma by 19.2% in the second quarter. Panagora Asset Management Inc. now owns 212,115 shares of the biopharmaceutical company’s stock valued at $4,813,000 after buying an additional 34,203 shares in the last quarter. 69.97% of the stock is currently owned by institutional investors and hedge funds.
About Theravance Biopharma
Theravance Biopharma, Inc is a biopharmaceutical company. The Company is engaged in creating medicines that make a difference in the lives of patients suffering from serious illness. The Company operates in the segment of discovery (research), development and commercialization of human therapeutics. The Company’s pipeline of internally discovered product candidates includes medicines to address the unmet needs of patients being treated for serious conditions primarily in the acute care setting.
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