Theravance Biopharma, Inc. (TBPH) Stock Rating Upgraded by Zacks Investment Research
Theravance Biopharma, Inc. (NASDAQ:TBPH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Theravance’s second-quarter 2017 results are discouraging as it reported wider-than-expected loss with revenue missing estimates. The company’s sole marketed product, Vibativ, continues to perform well. We are also positive on Theravance’s efforts to expand the Vibativ’s label, which, if approved for additional indications, would be commercially significant. Further, Theravance’s collaboration agreement with Mylan for revefenacin, is a big positive. However, Theravance’s dependence on Vibativ for growth is concerning. Moreover, its pipeline programs targeting the therapeutic areas are highly competitive which could affect the company’s operating results. Also, any agreement termination might be a huge setback for the company, as had been the case in the past. Its shares have underperformed the industry so far this year.”
Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald set a $55.00 price objective on shares of Theravance Biopharma and gave the stock a “buy” rating in a report on Wednesday, August 16th. Needham & Company LLC reaffirmed a “buy” rating on shares of Theravance Biopharma in a report on Wednesday, August 2nd. BidaskClub raised shares of Theravance Biopharma from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. ValuEngine raised shares of Theravance Biopharma from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Evercore ISI initiated coverage on shares of Theravance Biopharma in a report on Wednesday, August 16th. They issued an “outperform” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.86.
Theravance Biopharma (NASDAQ TBPH) opened at 33.07 on Tuesday. The stock has a 50 day moving average of $29.57 and a 200-day moving average of $35.29. Theravance Biopharma has a one year low of $23.15 and a one year high of $43.44. The stock’s market cap is $1.78 billion.
In other Theravance Biopharma news, Director Henrietta Fore purchased 6,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $23.99 per share, for a total transaction of $143,940.00. Following the completion of the transaction, the director now owns 24,000 shares in the company, valued at $575,760. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Bradford J. Shafer sold 14,670 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $30.77, for a total transaction of $451,395.90. Following the completion of the sale, the executive vice president now owns 134,327 shares in the company, valued at $4,133,241.79. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 20,000 shares of company stock worth $494,300. 6.10% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. raised its position in Theravance Biopharma by 6.3% in the second quarter. Ameritas Investment Partners Inc. now owns 3,865 shares of the biopharmaceutical company’s stock worth $153,000 after acquiring an additional 230 shares in the last quarter. Susquehanna International Group LLP raised its position in Theravance Biopharma by 56.8% in the second quarter. Susquehanna International Group LLP now owns 17,564 shares of the biopharmaceutical company’s stock worth $700,000 after acquiring an additional 6,364 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Theravance Biopharma by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 31,221 shares of the biopharmaceutical company’s stock worth $1,244,000 after acquiring an additional 1,175 shares in the last quarter. State Street Corp raised its position in Theravance Biopharma by 2.2% in the second quarter. State Street Corp now owns 889,682 shares of the biopharmaceutical company’s stock worth $35,443,000 after acquiring an additional 19,428 shares in the last quarter. Finally, QS Investors LLC bought a new stake in Theravance Biopharma in the second quarter worth about $100,000. Hedge funds and other institutional investors own 84.84% of the company’s stock.
Theravance Biopharma Company Profile
Theravance Biopharma, Inc is a biopharmaceutical company. The Company is engaged in creating medicines for 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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