Theravance SVP Sells $599,629 in Stock (THRX)
Theravance (NASDAQ:THRX) SVP Bradford J. Shafer sold 27,108 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $22.12, for a total transaction of $599,628.96. Following the transaction, the senior vice president now directly owns 446,274 shares of the company’s stock, valued at approximately $9,871,581. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Theravance (NASDAQ:THRX) traded up 1.03% on Wednesday, hitting $22.63. The stock had a trading volume of 431,977 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 $26.03 and its 200-day moving average is $25.92. The company’s market cap is $2.603 billion. Theravance also 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. Approximately 28.1% of the company’s stock are short sold. Based on an average trading volume of 1,256,758 shares, the short-interest ratio is currently 17.4 days.
Theravance (NASDAQ:THRX) last issued its quarterly earnings data 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 $-1.15 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 18th. Stockholders 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 4.46%. The ex-dividend date is Tuesday, August 26th.
A number of research firms have recently commented on THRX. 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 given a hold rating to the stock. The stock has an average 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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