Theravance Biopharma (NASDAQ:TBPH) Shares Gap Down After Analyst Downgrade

Theravance Biopharma, Inc. (NASDAQ:TBPH) gapped down before the market opened on Monday after JonesTrading downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $17.63, but opened at $16.97. Theravance Biopharma shares last traded at $17.04, with a volume of 771,977 shares.

A number of other equities analysts also recently commented on TBPH. BTIG Research downgraded shares of Theravance Biopharma from a “buy” rating to a “neutral” rating in a research report on Monday. HC Wainwright boosted their price target on shares of Theravance Biopharma from $20.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Oppenheimer cut shares of Theravance Biopharma from an “outperform” rating to a “market perform” rating in a report on Thursday, March 5th. Wall Street Zen downgraded shares of Theravance Biopharma from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, TD Cowen raised their price objective on shares of Theravance Biopharma from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, March 23rd. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Theravance Biopharma presently has a consensus rating of “Hold” and a consensus target price of $21.40.

Insider Activity at Theravance Biopharma

In other Theravance Biopharma news, SVP Rhonda Farnum sold 13,314 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $16.39, for a total transaction of $218,216.46. Following the sale, the senior vice president directly owned 232,457 shares in the company, valued at approximately $3,809,970.23. The trade was a 5.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.65% of the company’s stock.

Trending Headlines about Theravance Biopharma

Here are the key news stories impacting Theravance Biopharma this week:

• Positive Sentiment: Theravance Biopharma agreed to be acquired by Zymeworks for $17.00 per share in cash, a transaction that could unlock value for shareholders if completed. Article link
• Positive Sentiment: The deal includes a CVR giving Theravance shareholders 80% of any future net proceeds from ampreloxetine monetization, providing additional upside beyond the cash payment. Article link
• Neutral Sentiment: Multiple shareholder-rights law firms have launched investigations into whether the sale process and $17.00 per-share price are fair to public shareholders, which could add headlines but does not change the announced terms. Article link
• Neutral Sentiment: JonesTrading downgraded Theravance Biopharma from buy to hold, reflecting a more cautious stance after the acquisition announcement. Article link
• Negative Sentiment: The market is also reacting to the fact that the company’s strategic review was triggered by the failure of ampreloxetine, which may have limited standalone growth prospects and helped push the company toward a sale. Article link

Institutional Trading of Theravance Biopharma

A number of institutional investors have recently added to or reduced their stakes in TBPH. Vanguard Group Inc. grew its position in Theravance Biopharma by 2.5% during the third quarter. Vanguard Group Inc. now owns 2,211,582 shares of the biopharmaceutical company’s stock worth $32,289,000 after buying an additional 54,152 shares during the period. State Street Corp boosted its stake in shares of Theravance Biopharma by 4.4% during the 4th quarter. State Street Corp now owns 1,101,892 shares of the biopharmaceutical company’s stock worth $20,616,000 after acquiring an additional 45,987 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Theravance Biopharma by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 983,615 shares of the biopharmaceutical company’s stock worth $15,960,000 after acquiring an additional 124,658 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Theravance Biopharma by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 938,724 shares of the biopharmaceutical company’s stock worth $17,567,000 after acquiring an additional 40,734 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Theravance Biopharma in the 3rd quarter worth approximately $10,611,000. Hedge funds and other institutional investors own 99.10% of the company’s stock.

Theravance Biopharma Trading Down 0.4%

The stock has a market capitalization of $876.35 million, a PE ratio of 7.73 and a beta of 0.17. The firm has a 50 day moving average of $16.56 and a two-hundred day moving average of $17.29.

Theravance Biopharma (NASDAQ:TBPH) last issued its quarterly earnings data on Tuesday, March 31st. The biopharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $17.70 million for the quarter. Theravance Biopharma had a return on equity of 18.84% and a net margin of 104.34%. Equities research analysts forecast that Theravance Biopharma, Inc. will post 1.54 EPS for the current year.

About Theravance Biopharma

Theravance Biopharma is a biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines, primarily in the areas of respiratory disease, inflammatory and immunology, and rare disorders. The company develops small-molecule therapies designed to address unmet medical needs by targeting specific molecular pathways. Its lead marketed product, YUPELRI® (revefenacin) inhalation solution, is the first and only once-daily, long-acting muscarinic antagonist (LAMA) approved by the U.S.