Theravance Stock Rating Reaffirmed by Zacks (THRX)
Theravance (NASDAQ:THRX)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday. They currently have a $23.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 4.55% from the company’s current price.
Zacks’ analyst wrote, “Theravance’s second quarter 2014 loss of $0.18 per share was narrower than the Zacks Consensus Estimate of a loss of $0.53. 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. This was the first quarter for Theravance as a royalty management company. 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 $23.00 per share.”
Theravance (NASDAQ:THRX) traded up 2.23% during mid-day trading on Friday, hitting $22.49. The stock had a trading volume of 335,486 shares. Theravance has a 52-week low of $20.2337 and a 52-week high of $34.5286. The stock’s 50-day moving average is $26.85 and its 200-day moving average is $26.16. The company’s market cap is $2.496 billion.
Theravance (NASDAQ:THRX) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.44) by $0.13. The company had revenue of $0.93 million for the quarter, compared to the consensus estimate of $4.39 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was down 29.3% on a year-over-year basis. On average, analysts predict that Theravance will post $-1.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 18th. Shareholders of record on Thursday, August 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.55%.
A number of other analysts have also recently weighed in on THRX. Analysts at Morgan Stanley downgraded shares of Theravance from a “buy” rating to a “neutral” rating in a research note on Thursday, July 24th. They now have a $31.00 price target on the stock, down previously from $34.00. Separately, analysts at Bank of America downgraded shares of Theravance from a “buy” rating to a “neutral” rating in a research note on Thursday, July 24th. They now have a $31.00 price target on the stock, down previously from $34.00. Finally, analysts at Stifel Nicolaus downgraded shares of Theravance to an “underweight” rating in a research note on Monday, July 21st. They now have a $7.00 price target on the stock, down previously from $12.00. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.60.
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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