Theravance Biopharma, Inc. (TBPH) Lifted to Hold at Zacks Investment Research
Theravance Biopharma, Inc. (NASDAQ:TBPH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Theravance’s second-quarter 2017 results are discouraging as it reported wider-than-expected loss with revenue missing estimates. We are positive on Theravance’s efforts to expand the Vibativ’s label, which, if approved for additional indications, would be commercially significant. Further, Theravance’s collaboration agreement with Mylan for revefenacin, is a big positive. Though the company’s sole marketed product, Vibativ, continues to perform well, Theravance’s dependence on Vibativ for growth is concerning. Nevertheless, its pipeline programs targeting the therapeutic areas are highly competitive which could affect the company’s operating results. Also, any agreement termination might be a huge setback for the company, as had been the case in the past. Its shares have underperformed the industry so far this year.”
TBPH has been the subject of several other reports. Evercore ISI began coverage on shares of Theravance Biopharma in a report on Wednesday, August 16th. They issued an “outperform” rating and a $45.00 price objective for the company. BidaskClub cut shares of Theravance Biopharma from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Cantor Fitzgerald set a $55.00 price objective on shares of Theravance Biopharma and gave the company a “buy” rating in a report on Wednesday, July 19th. Needham & Company LLC increased their price objective on shares of Theravance Biopharma from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, Leerink Swann set a $47.00 price objective on shares of Theravance Biopharma and gave the company a “buy” rating in a report on Wednesday, May 10th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $41.63.
Shares of Theravance Biopharma (TBPH) traded down 0.27% during trading on Tuesday, reaching $29.89. The company had a trading volume of 28,649 shares. Theravance Biopharma has a 52-week low of $23.15 and a 52-week high of $43.44. The stock’s market capitalization is $1.61 billion. The stock has a 50 day moving average of $30.93 and a 200 day moving average of $35.25.
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In other Theravance Biopharma news, CEO Rick E. Winningham bought 10,000 shares of Theravance Biopharma stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $24.50 per share, for a total transaction of $245,000.00. Following the completion of the acquisition, the chief executive officer now owns 866,377 shares of the company’s stock, valued at approximately $21,226,236.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Frank Pasqualone bought 4,000 shares of Theravance Biopharma stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average price of $26.34 per share, with a total value of $105,360.00. Following the completion of the acquisition, the senior vice president now directly owns 213,180 shares of the company’s stock, valued at approximately $5,615,161.20. The disclosure for this purchase can be found here. Insiders have purchased 20,000 shares of company stock valued at $494,300 over the last 90 days. 6.10% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its holdings in Theravance Biopharma by 6.3% during the second quarter. Ameritas Investment Partners Inc. now owns 3,865 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 230 shares in the last quarter. Susquehanna International Group LLP boosted its holdings in Theravance Biopharma by 56.8% during the second quarter. Susquehanna International Group LLP now owns 17,564 shares of the biopharmaceutical company’s stock worth $700,000 after buying an additional 6,364 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Theravance Biopharma by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 31,221 shares of the biopharmaceutical company’s stock worth $1,244,000 after buying an additional 1,175 shares in the last quarter. State Street Corp boosted its holdings in Theravance Biopharma by 2.2% during the second quarter. State Street Corp now owns 889,682 shares of the biopharmaceutical company’s stock worth $35,443,000 after buying an additional 19,428 shares in the last quarter. Finally, QS Investors LLC bought a new stake in Theravance Biopharma during the second quarter worth approximately $100,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.
About Theravance Biopharma
Theravance Biopharma, Inc is a biopharmaceutical company. The Company is engaged in creating medicines for patients suffering from serious illness. The Company operates in the segment of discovery (research), development and commercialization of human therapeutics. The Company’s pipeline of internally discovered product candidates includes medicines to address the unmet needs of patients being treated for serious conditions primarily in the acute care setting.
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