BTIG Research Cuts Theravance Biopharma (NASDAQ:TBPH) Price Target to $21.00

Theravance Biopharma (NASDAQ:TBPH) had its price objective lowered by BTIG Research from $40.00 to $21.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

TBPH has been the topic of a number of other reports. HC Wainwright raised their target price on shares of Theravance Biopharma from $20.00 to $27.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Theravance Biopharma in a research note on Thursday, January 22nd. Oppenheimer began coverage on shares of Theravance Biopharma in a research report on Wednesday, December 3rd. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Theravance Biopharma from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Theravance Biopharma currently has an average rating of “Moderate Buy” and an average price target of $22.60.

Theravance Biopharma Price Performance

TBPH opened at $13.58 on Tuesday. The firm has a market capitalization of $688.10 million, a P/E ratio of 23.82 and a beta of 0.17. Theravance Biopharma has a one year low of $7.90 and a one year high of $21.03. The company has a fifty day moving average price of $19.06 and a 200-day moving average price of $16.83.

Hedge Funds Weigh In On Theravance Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in TBPH. Baader Bank Aktiengesellschaft purchased a new position in shares of Theravance Biopharma in the third quarter valued at about $781,000. Hillsdale Investment Management Inc. bought a new stake in shares of Theravance Biopharma in the third quarter worth about $4,536,000. Inspire Investing LLC purchased a new position in Theravance Biopharma during the 3rd quarter valued at about $1,074,000. Assenagon Asset Management S.A. raised its position in Theravance Biopharma by 1,629.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 414,715 shares of the biopharmaceutical company’s stock valued at $6,055,000 after purchasing an additional 390,735 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Theravance Biopharma by 76.8% in the 2nd quarter. Acadian Asset Management LLC now owns 308,652 shares of the biopharmaceutical company’s stock worth $3,401,000 after buying an additional 134,058 shares during the period. Institutional investors own 99.10% of the company’s stock.

About Theravance Biopharma

Theravance Biopharma is a biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines, primarily in the areas of respiratory disease, inflammatory and immunology, and rare disorders. The company develops small-molecule therapies designed to address unmet medical needs by targeting specific molecular pathways. Its lead marketed product, YUPELRI® (revefenacin) inhalation solution, is the first and only once-daily, long-acting muscarinic antagonist (LAMA) approved by the U.S.