Zacks Investment Research upgraded shares of Theravance Biopharma Inc. (NASDAQ:TBPH) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $41.00 target price on the biopharmaceutical company’s stock.
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. 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.”
Several other research firms have also weighed in on TBPH. Leerink Swann boosted their target price on shares of Theravance Biopharma to $29.00 and gave the company an outperform rating in a research note on Monday, June 20th. Guggenheim initiated coverage on shares of Theravance Biopharma in a research note on Monday, June 20th. They set a buy rating and a $30.00 target price for the company. Bank of America Corp. lowered shares of Theravance Biopharma from a neutral rating to an underperform rating in a research note on Wednesday, August 3rd. Finally, Evercore ISI initiated coverage on shares of Theravance Biopharma in a research note on Monday, August 29th. They set a buy rating and a $41.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $38.25.
Shares of Theravance Biopharma (NASDAQ:TBPH) opened at 36.73 on Tuesday. The firm’s market cap is $1.76 billion. Theravance Biopharma has a 52 week low of $12.75 and a 52 week high of $37.46. The company has a 50 day moving average of $32.29 and a 200 day moving average of $24.81.
Theravance Biopharma (NASDAQ:TBPH) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the consensus estimate 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%. On average, equities research analysts anticipate that Theravance Biopharma will post ($4.03) EPS for the current fiscal year.
In other news, EVP Bradford J. Shafer sold 49,122 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $27.46, for a total transaction of $1,348,890.12. Following the completion of the transaction, the executive vice president now owns 241,686 shares in the company, valued at $6,636,697.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brett K. Haumann sold 4,491 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $27.99, for a total transaction of $125,703.09. Following the transaction, the senior vice president now owns 188,293 shares of the company’s stock, valued at approximately $5,270,321.07. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in 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 during the last quarter. Teacher Retirement System of Texas increased its stake in Theravance Biopharma by 40.2% in the second quarter. Teacher Retirement System of Texas now owns 4,887 shares of the biopharmaceutical company’s stock valued at $111,000 after buying an additional 1,401 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Theravance Biopharma by 3.3% in the second quarter. PNC Financial Services Group Inc. now owns 5,992 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 192 shares during the last quarter. Bellevue Group AG bought a new stake in Theravance Biopharma during the first quarter valued at $215,000. Finally, Paloma Partners Management Co bought a new stake in Theravance Biopharma during the second quarter valued at $255,000. 69.89% of the stock is owned by institutional investors and hedge funds.
Theravance Biopharma Company Profile
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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