Theravance Biopharma Inc. (TBPH) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Theravance Biopharma Inc. (NASDAQ:TBPH) from a hold rating to a buy rating in a research note released on Tuesday. The firm currently has $41.00 price objective 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.”
TBPH has been the subject of a number of other reports. Evercore ISI assumed coverage on Theravance Biopharma in a report on Monday, August 29th. They issued a buy rating and a $41.00 target price for the company. Leerink Swann reiterated a buy rating on shares of Theravance Biopharma in a report on Friday, June 10th. Guggenheim reiterated a positive rating and issued a $40.00 target price on shares of Theravance Biopharma in a report on Monday, September 19th. Finally, Bank of America Corp. downgraded Theravance Biopharma from a neutral rating to an underperform rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Theravance Biopharma presently has an average rating of Buy and a consensus target price of $38.25.
Theravance Biopharma (NASDAQ:TBPH) traded up 0.69% during midday trading on Tuesday, reaching $36.55. The company had a trading volume of 20,218 shares. The firm’s market capitalization is $1.75 billion. The stock’s 50 day moving average is $31.53 and its 200 day moving average is $24.50. Theravance Biopharma has a 12-month low of $12.38 and a 12-month high of $37.14.
Theravance Biopharma (NASDAQ:TBPH) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, missing the Zacks’ consensus estimate 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%. Equities research analysts expect that Theravance Biopharma will post ($4.03) earnings per share for the current year.
In other Theravance Biopharma news, SVP Brett K. Haumann sold 9,509 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $27.97, for a total value of $265,966.73. Following the transaction, 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 SEC, which can be accessed through the SEC website. Also, EVP Bradford J. Shafer sold 49,122 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $27.46, for a total value of $1,348,890.12. Following the completion of the transaction, 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. 4.70% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of TBPH. FMR LLC boosted its position in Theravance Biopharma by 70.8% in the second quarter. FMR LLC now owns 3,278,215 shares of the biopharmaceutical company’s stock valued at $74,383,000 after buying an additional 1,358,912 shares in the last quarter. Vanguard Group Inc. boosted its position in Theravance Biopharma by 25.5% in the second quarter. Vanguard Group Inc. now owns 2,451,566 shares of the biopharmaceutical company’s stock valued at $55,626,000 after buying an additional 497,350 shares in the last quarter. BlackRock Fund Advisors boosted its position in Theravance Biopharma by 13.9% in the second quarter. BlackRock Fund Advisors now owns 1,785,707 shares of the biopharmaceutical company’s stock valued at $40,518,000 after buying an additional 218,112 shares in the last quarter. State Street Corp boosted its position in Theravance Biopharma by 30.4% in the second quarter. State Street Corp now owns 709,571 shares of the biopharmaceutical company’s stock valued at $16,099,000 after buying an additional 165,364 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Theravance Biopharma by 11.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 806,351 shares of the biopharmaceutical company’s stock valued at $18,296,000 after buying an additional 82,063 shares in the last quarter. 69.89% 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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