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Theravance (NASDAQ:THRX) was downgraded by investment analysts at Robert W. Baird from a “neutral” rating to an “underperform” rating in a note issued to investors on Thursday.

In other Theravance news, SVP Bradford J. Shafer sold 28,156 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $22.13, for a total transaction of $623,092.28. The sale was disclosed in a filing with the SEC, which is available at this link.

A number of other analysts have also recently weighed in 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. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Theravance presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Theravance (NASDAQ:THRX) traded up 0.09% during mid-day trading on Thursday, hitting $22.65. 57,596 shares of the company’s stock traded hands. Theravance has a 52 week low of $20.2337 and a 52 week high of $34.5286. The stock has a 50-day moving average of $26.03 and a 200-day moving average of $25.92. The company’s market cap is $2.605 billion. Theravance also was the target of a significant 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. Based on an average daily trading volume, of 1,256,758 shares, the days-to-cover ratio is currently 17.4 days. Currently, 28.1% of the shares of the stock are sold short.

Theravance (NASDAQ:THRX) last announced its earnings results on Wednesday, August 6th. The company reported ($0.57) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.37) earnings per share. Theravance’s revenue was down 29.3% compared to the same quarter last year. Analysts expect that Theravance will post $-1.15 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 18th. Investors of record on Thursday, August 28th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend 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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