Theravance Biopharma Inc. (NASDAQ:TBPH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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.”
A number of other equities research analysts have also recently issued reports on TBPH. Robert W. Baird cut Theravance Biopharma from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $19.00 to $24.00 in a research note on Wednesday. Guggenheim reiterated a “positive” rating and set a $40.00 price objective on shares of Theravance Biopharma in a research note on Monday, September 19th. Evercore ISI assumed coverage on Theravance Biopharma in a research note on Monday, August 29th. They set a “buy” rating and a $41.00 price objective on the stock. Leerink Swann reiterated a “buy” rating and set a $31.00 price objective on shares of Theravance Biopharma in a research note on Tuesday, August 9th. Finally, Bank of America Corp. cut Theravance Biopharma from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Theravance Biopharma has a consensus rating of “Hold” and a consensus target price of $35.40.
Shares of Theravance Biopharma (NASDAQ:TBPH) traded down 2.98% during midday trading on Friday, hitting $30.91. 155,531 shares of the stock traded hands. The company’s market capitalization is $1.48 billion. The firm’s 50 day moving average price is $33.11 and its 200 day moving average price is $25.25. Theravance Biopharma has a 12-month low of $12.87 and a 12-month high of $38.92.
Theravance Biopharma (NASDAQ:TBPH) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by $0.01. Theravance Biopharma had a negative return on equity of 70.79% and a negative net margin of 471.82%. Analysts expect that Theravance Biopharma will post ($4.03) EPS for the current year.
In related news, SVP Brett K. Haumann sold 4,491 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $27.99, for a total value of $125,703.09. Following the sale, the senior vice president now owns 188,293 shares in the company, valued at approximately $5,270,321.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Brett K. Haumann sold 9,509 shares of the stock in a transaction on Friday, August 19th. The shares were sold at an average price of $27.97, for a total value of $265,966.73. Following the completion of the sale, the senior vice president now owns 197,391 shares in the company, valued at approximately $5,521,026.27. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Cupps Capital Management LLC acquired a new stake in Theravance Biopharma during the third quarter worth $1,202,000. BNP Paribas Arbitrage SA boosted its position 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. Schwab Charles Investment Management Inc. boosted its position in 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 during the last quarter. Paloma Partners Management Co purchased a new position in Theravance Biopharma during the second quarter valued at $255,000. Finally, Panagora Asset Management Inc. boosted its position in 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 during the last quarter. Institutional investors and hedge funds own 69.89% of the company’s stock.
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.