.png "Theravance Biopharma (NASDAQ: TBPH)")
Needham analyst Alan Carr maintained a Buy rating on Theravance Biopharma (NASDAQ: TBPH) today and set a price target of $40. The company’s shares opened today at $24.86, close to its 52-week low of $21.27.
Carr said:
“Theravance provided a quarterly corporate update yesterday. Mgmt guided for TD-9855 data in Neurogenic Orthostatic Hypotension (NOH) in Jul 2018 (was 2Q18). Impact on symptoms (dizziness) through 4wks will be key. There are limitations to the trial, however, including a small number of patients and no placebo arm. Nevertheless, mgmt is optimistic for Phase 3 initiation by YE18. FDA reportedly requiring a large safety trial for velusetrag, prompting Theravance to stop development in the U.S. Collaborator Alfasigma consequently exercised its option for WW rights and will pursue development in EU. TD-1473 trial initiations in Disease are still on track for 2H18. Reiterate BUY, but reducing price target to $40 (was $45) to reflect decision not to develop velusetrag in U.S.”
According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.8% and a 40.9% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.
Currently, the analyst consensus on Theravance Biopharma is Strong Buy and the average price target is $42.75, representing a 72.0% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $55 price target.
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Based on Theravance Biopharma’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $86.92 million. In comparison, last year the company had a GAAP net loss of $65.32 million.
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Theravance Biopharma, Inc. operates as a biopharmaceutical company, which focuses on the discovery, development and commercialization of small molecule medicines. Its products include telavancin under the VIBATIV brand, revefenacin under the TD 4208 brand and neprilysin. The company was founded in July 2013 and is headquartered in George Town, Cayman Islands.
