Theravance VP Junning Lee Sells 53,424 Shares (THRX)
Theravance (NASDAQ:THRX) VP Junning Lee unloaded 53,424 shares of Theravance stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $22.50, for a total transaction of $1,202,040.00. Following the completion of the transaction, the vice president now directly owns 265,459 shares of the company’s stock, valued at approximately $5,972,828. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on THRX shares. Analysts at Robert W. Baird downgraded shares of Theravance from a “neutral” rating to an “underperform” rating in a research note on Thursday. Separately, 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. Finally, 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. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.00.
Theravance (NASDAQ:THRX) remained flat at $22.70 during during mid-day trading trading on Friday. 413,633 shares of the company’s stock traded hands. 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 $25.62 and a 200-day moving average of $25.8. The company’s market cap is $2.611 billion. Theravance also was the target of a large decline in short interest during the month of 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 volume of 1,256,758 shares, the short-interest ratio is currently 17.4 days. Approximately 28.1% of the company’s stock are sold short.
Theravance (NASDAQ:THRX) last released its 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. 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. Stockholders 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 4.41%. 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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