Theravance Biopharma Inc. (TBPH) Upgraded by Zacks Investment Research to “Hold”
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.”
Several other research firms also recently issued reports on TBPH. Robert W. Baird downgraded shares of Theravance Biopharma from a neutral rating to an underperform rating and upped their price objective for the company from $19.00 to $24.00 in a report on Wednesday, October 12th. Guggenheim restated a positive rating and set a $40.00 price objective on shares of Theravance Biopharma in a report on Monday, September 19th. Evercore ISI initiated coverage on shares of Theravance Biopharma in a report on Monday, August 29th. They issued a buy rating and a $41.00 price target on the stock. Bank of America Corp. downgraded shares of Theravance Biopharma from a neutral rating to an underperform rating in a report on Wednesday, August 3rd. Finally, Leerink Swann reiterated a buy rating and issued a $31.00 price target on shares of Theravance Biopharma in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $35.40.
Shares of Theravance Biopharma (NASDAQ:TBPH) traded up 4.151% during mid-day trading on Friday, hitting $30.235. 162,366 shares of the company’s stock traded hands. Theravance Biopharma has a 52 week low of $12.87 and a 52 week high of $38.92. The company’s market cap is $1.45 billion. The firm has a 50-day moving average of $33.14 and a 200 day moving average of $25.33.
Theravance Biopharma (NASDAQ:TBPH) last posted its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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%. Equities research analysts predict that Theravance Biopharma will post ($4.03) EPS for the current year.
In other Theravance Biopharma news, EVP Bradford J. Shafer sold 49,122 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 241,686 shares in the company, valued at approximately $6,636,697.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Brett K. Haumann sold 9,509 shares of the company’s stock in a transaction that occurred 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 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 company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. acquired a new position in shares of Theravance Biopharma during the second quarter worth about $273,000. Nationwide Fund Advisors raised its position in shares of Theravance Biopharma by 54.3% in the second quarter. Nationwide Fund Advisors now owns 28,591 shares of the biopharmaceutical company’s stock worth $649,000 after buying an additional 10,059 shares during the period. Boston Partners raised its position in shares of Theravance Biopharma by 3.5% in the second quarter. Boston Partners now owns 95,579 shares of the biopharmaceutical company’s stock worth $2,169,000 after buying an additional 3,269 shares during the period. PNC Financial Services Group Inc. raised its position in shares of 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 worth $136,000 after buying an additional 192 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Theravance Biopharma by 3.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 25,478 shares of the biopharmaceutical company’s stock worth $578,000 after buying an additional 815 shares during the period. Hedge funds and other institutional investors own 69.97% 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.
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