Theravance Sees Significant Drop in Short Interest (THRX)
Theravance (NASDAQ:THRX) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 21,928,363 shares, a decline of 7.1% from the July 15th total of 23,592,563 shares, Stock Ratings Network.com reports. Based on an average daily volume of 1,256,758 shares, the short-interest ratio is presently 17.4 days. Approximately 28.1% of the company’s shares are sold short.
In other Theravance news, major shareholder Plc Glaxosmithkline acquired 172,651 shares of Theravance stock on the open market in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $3,912,270.00 per share, with a total value of $675,457,327,770.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Theravance in a research note on Friday, August 8th. They now have a $23.00 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.60.
Shares of Theravance (NASDAQ:THRX) opened at 22.40 on Wednesday. Theravance has a one year low of $20.2337 and a one year high of $34.5286. The stock has a 50-day moving average of $26.23 and a 200-day moving average of $25.94. The company’s market cap is $2.576 billion.
Theravance (NASDAQ:THRX) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter 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. Investors 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 4.52%. The ex-dividend date is Tuesday, August 26th.
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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