Theravance Biopharma (NASDAQ:TBPH) Cut to “Hold” at Needham & Company LLC

Theravance Biopharma (NASDAQ:TBPH) was downgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, The Fly reports.

Several other equities research analysts also recently weighed in on TBPH. Cowen downgraded shares of Theravance Biopharma from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $42.00 to $14.00 in a research report on Tuesday, August 24th. Robert W. Baird cut their target price on shares of Theravance Biopharma from $20.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, August 24th. Morgan Stanley downgraded shares of Theravance Biopharma from an “overweight” rating to an “underweight” rating and cut their target price for the stock from $27.00 to $14.00 in a research report on Tuesday, August 24th. Citigroup cut their target price on shares of Theravance Biopharma from $20.00 to $14.00 and set an “underperform” rating for the company in a research report on Tuesday, August 24th. Finally, HC Wainwright cut their target price on shares of Theravance Biopharma from $32.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday, August 24th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.60.

Shares of TBPH traded down $1.31 on Wednesday, hitting $6.73. 369,099 shares of the stock traded hands, compared to its average volume of 536,188. The company has a market capitalization of $494.45 million, a PE ratio of -1.63 and a beta of 0.82. The business has a 50 day simple moving average of $11.92 and a 200 day simple moving average of $16.43. Theravance Biopharma has a one year low of $7.98 and a one year high of $22.74.

Theravance Biopharma (NASDAQ:TBPH) last announced its quarterly earnings results on Monday, August 2nd. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.02) by $0.22. The firm had revenue of $12.91 million for the quarter, compared to the consensus estimate of $15.02 million. On average, equities research analysts forecast that Theravance Biopharma will post -3.6 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of Theravance Biopharma by 5.2% during the 2nd quarter. Principal Financial Group Inc. now owns 14,850 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 740 shares in the last quarter. Virtus ETF Advisers LLC lifted its stake in shares of Theravance Biopharma by 2.8% during the 1st quarter. Virtus ETF Advisers LLC now owns 32,871 shares of the biopharmaceutical company’s stock valued at $671,000 after buying an additional 905 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Theravance Biopharma by 0.9% during the 1st quarter. Nuveen Asset Management LLC now owns 191,887 shares of the biopharmaceutical company’s stock valued at $3,916,000 after buying an additional 1,727 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Theravance Biopharma during the 2nd quarter valued at $29,000. Finally, Panagora Asset Management Inc. lifted its stake in shares of Theravance Biopharma by 1.2% during the 1st quarter. Panagora Asset Management Inc. now owns 187,115 shares of the biopharmaceutical company’s stock valued at $3,819,000 after buying an additional 2,128 shares in the last quarter. Institutional investors and hedge funds own 82.11% of the company’s stock.

Theravance Biopharma Company Profile

Theravance Biopharma, Inc is a diversified biopharmaceutical company primarily focused on the discovery, development and commercialization of organ-selective medicines. Its purpose is to pioneer a new generation of small molecule drugs designed to better meet patient needs. Its research is focused in the areas of inflammation and immunology.
In pursuit of its purpose, Theravance Biopharma applies insights and innovation at each stage of its business and utilizes its internal capabilities and those of partners around the world.

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