Theravance Biopharma (NASDAQ:TBPH) Cut to Underweight at JPMorgan Chase & Co.

Theravance Biopharma (NASDAQ:TBPH) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to an “underweight” rating in a note issued to investors on Wednesday, The Fly reports.

TBPH has been the topic of a number of other reports. HC Wainwright cut their price objective on shares of Theravance Biopharma from $32.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 24th. Citigroup cut their price target on shares of Theravance Biopharma from $20.00 to $14.00 and set an “underperform” rating on the stock in a report on Tuesday, August 24th. Robert W. Baird decreased their price objective on shares of Theravance Biopharma from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, August 24th. Needham & Company LLC dropped their target price on shares of Theravance Biopharma from $32.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, August 24th. Finally, Cowen lowered Theravance Biopharma from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $42.00 to $14.00 in a report on Tuesday, August 24th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.33.

TBPH traded down $0.97 during midday trading on Wednesday, reaching $7.07. 223,328 shares of the company were exchanged, compared to its average volume of 536,188. The company has a market cap of $519.43 million, a price-to-earnings ratio of -1.72 and a beta of 0.82. Theravance Biopharma has a one year low of $7.98 and a one year high of $22.74. The company’s fifty day moving average price is $11.92 and its 200 day moving average price is $16.43.

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

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC grew its position in shares of Theravance Biopharma by 390.1% during the 1st quarter. Millennium Management LLC now owns 118,869 shares of the biopharmaceutical company’s stock valued at $2,426,000 after acquiring an additional 94,617 shares during the period. CM Management LLC bought a new position in shares of Theravance Biopharma during the 1st quarter valued at approximately $1,021,000. Virtus ETF Advisers LLC grew its position 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 acquiring an additional 905 shares during the period. Ergoteles LLC bought a new position in shares of Theravance Biopharma during the 1st quarter valued at approximately $296,000. Finally, Jane Street Group LLC bought a new position in shares of Theravance Biopharma during the 1st quarter valued at approximately $290,000. 82.11% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Story: The Role of a Fiduciary and Individual Investors

The Fly logo

Analyst Recommendations for Theravance Biopharma (NASDAQ:TBPH)

Receive News & Ratings for Theravance Biopharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Theravance Biopharma and related companies with MarketBeat.com's FREE daily email newsletter.