Cowen Cuts Theravance Biopharma (NASDAQ:TBPH) Price Target to $8.00

Theravance Biopharma (NASDAQ:TBPH) had its price target lowered by Cowen from $14.00 to $8.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “market perform” rating on the biopharmaceutical company’s stock. Cowen’s price objective would suggest a potential upside of 18.87% from the company’s current price.

A number of other research analysts have also commented on TBPH. HC Wainwright lowered their price target on Theravance Biopharma from $32.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, August 24th. Citigroup lowered their price target on 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 lowered their target price on Theravance Biopharma from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, August 24th. SVB Leerink lowered their target price on Theravance Biopharma from $37.00 to $29.00 and set an “outperform” rating on the stock in a report on Tuesday, August 24th. Finally, Morgan Stanley lowered Theravance Biopharma from an “overweight” rating to an “underweight” rating and lowered their target price for the stock from $27.00 to $14.00 in a report on Tuesday, August 24th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.60.

TBPH stock traded down $1.31 during mid-day trading on Wednesday, reaching $6.73. The company had a trading volume of 369,099 shares, compared to its average volume of 536,188. The stock has a market capitalization of $494.45 million, a P/E ratio of -1.63 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 stock’s 50-day simple moving average is $11.92 and its two-hundred day simple moving average is $16.43.

Theravance Biopharma (NASDAQ:TBPH) last posted its earnings results on Monday, August 2nd. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.22. The company had revenue of $12.91 million during the quarter, compared to the consensus estimate of $15.02 million. As a group, research analysts predict that Theravance Biopharma will post -3.6 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TBPH. Newbridge Financial Services Group Inc. acquired a new stake in Theravance Biopharma during the 2nd quarter worth about $29,000. SG Americas Securities LLC acquired a new stake in shares of Theravance Biopharma during the 2nd quarter valued at about $117,000. Citigroup Inc. lifted its holdings in shares of Theravance Biopharma by 57.7% during the 2nd quarter. Citigroup Inc. now owns 9,905 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 3,626 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Theravance Biopharma during the 2nd quarter valued at about $196,000. Finally, HRT Financial LP acquired a new stake in shares of Theravance Biopharma during the 1st quarter valued at about $200,000. Hedge funds and other institutional investors own 82.11% of the company’s stock.

About Theravance Biopharma

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.

Further Reading: How does the Beige Book influence monetary policy?

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.