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Investment analysts at Bank of America initiated coverage on shares of Theravance (NASDAQ:THRX) in a note issued to investors on Friday. The firm set a “buy” rating on the stock.

Shares of Theravance (NASDAQ:THRX) traded down 0.40% during mid-day trading on Friday, hitting $24.79. The stock had a trading volume of 928,737 shares. Theravance has a one year low of $20.2337 and a one year high of $34.6172. The stock’s 50-day moving average is $22.26 and its 200-day moving average is $26.93. The company’s market cap is $2.792 billion.

Theravance (NASDAQ:THRX) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.62) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.53) by $0.09. The company had revenue of $0.17 million for the quarter, compared to the consensus estimate of $4.52 million. During the same quarter last year, the company posted ($0.39) earnings per share. Theravance’s revenue was down 87.3% compared to the same quarter last year. On average, analysts predict that Theravance will post $-1.50 earnings per share for the current fiscal year.

A number of other firms have also recently commented on THRX. Analysts at Robert W. Baird downgraded shares of Theravance from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $21.00 price target on the stock, down previously from $31.00. Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Theravance in a research note on Wednesday, May 7th. They now have a $47.00 price target on the stock, down previously from $52.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Theravance in a research note on Wednesday, May 7th. They now have a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Theravance has an average rating of “Hold” and an average price target of $29.60.

Theravance, Inc (NASDAQ:THRX) is a biopharmaceutical company with a pipeline of internally discovered product candidates and strategic collaborations with pharmaceutical companies.

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