Theravance (THRX) Announces Quarterly Earnings Results, Beats Estimates By $0.35 EPS
Theravance (NASDAQ:THRX) posted its quarterly earnings results on Monday. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.35, American Banking News.com reports.
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. On a related note, 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 company. The stock currently has an average rating of “Hold” and a consensus price target of $23.00.
Theravance (NASDAQ:THRX) opened at 22.70 on Monday. Theravance has a one year low of $20.2337 and a one year high of $34.5286. The stock’s 50-day moving average is $25.62 and its 200-day moving average is $25.8. The company’s market cap is $2.611 billion.
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.
In other Theravance news, VP Junning Lee unloaded 53,424 shares of the 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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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