Theravance Given “Neutral” Rating at Zacks (THRX)
Theravance (NASDAQ:THRX)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Friday. They currently have a $28.00 target price on the stock. Zacks‘s price target indicates a potential upside of 4.21% from the company’s current price.
Zacks’ analyst wrote, “Theravance’s first quarter 2014 loss of $0.62 per share was wider than the Zacks Consensus Estimate of a loss of $0.53 and the year-ago loss of $0.39 per share. The wider year-over-year loss was due to lower revenues and higher costs. Theravance split into two publicly traded companies in June this year. The company dealing with the products/candidates pertaining to the Glaxo partnership retained the company’s name. We are positive on the approval of COPD drugs Breo Ellipta and Anoro Ellipta in the U.S. The reintroduction of Vibativ in the U.S. is also encouraging. We prefer to remain on the sidelines until more visibility is obtained on the commercialization of the drugs. Our target price is $28.00 per share.”
Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. downgraded shares of Theravance from a “buy” rating to a “hold” rating in a research note on Thursday, June 12th. Separately, analysts at Stifel Nicolaus downgraded shares of Theravance from a “buy” rating to a “hold” rating in a research note on Thursday, June 12th. Finally, analysts at Stifel Nicolaus downgraded shares of Theravance from a “buy” rating to a “hold” rating in a research note on Thursday, June 12th. They now have a $37.86 price target on the stock. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.00.
Shares of Theravance (NASDAQ:THRX) traded up 3.46% on Friday, hitting $27.80. The stock had a trading volume of 478,313 shares. Theravance has a one year low of $20.2337 and a one year high of $34.5286. The stock’s 50-day moving average is $27.61 and its 200-day moving average is $26.83. The company’s market cap is $3.131 billion.
Theravance (NASDAQ:THRX) last announced its earnings results on Tuesday, May 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted ($0.39) earnings per share. The company’s revenue for the quarter was down 87.3% on a year-over-year basis. On average, analysts predict that Theravance will post $-1.20 earnings per share for the current fiscal year.
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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