Franklin Resources Inc. lessened its stake in Theravance Biopharma, Inc. (NASDAQ:TBPH – Free Report) by 13.6% in the third quarter, HoldingsChannel.com reports. The firm owned 11,011 shares of the biopharmaceutical company’s stock after selling 1,736 shares during the quarter. Franklin Resources Inc.’s holdings in Theravance Biopharma were worth $91,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TBPH. Quantbot Technologies LP acquired a new position in Theravance Biopharma during the third quarter worth about $60,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Theravance Biopharma by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,409 shares of the biopharmaceutical company’s stock worth $76,000 after acquiring an additional 3,696 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Theravance Biopharma in the 3rd quarter worth approximately $104,000. Hsbc Holdings PLC acquired a new stake in shares of Theravance Biopharma in the 2nd quarter worth approximately $108,000. Finally, XTX Topco Ltd purchased a new position in Theravance Biopharma in the 2nd quarter valued at approximately $129,000. Institutional investors and hedge funds own 99.10% of the company’s stock.
Analysts Set New Price Targets
Separately, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Theravance Biopharma in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.75.
Theravance Biopharma Price Performance
TBPH stock opened at $9.28 on Friday. The company’s 50 day simple moving average is $9.39 and its 200-day simple moving average is $8.87. Theravance Biopharma, Inc. has a 12 month low of $7.44 and a 12 month high of $11.71. The firm has a market capitalization of $456.33 million, a PE ratio of -9.19 and a beta of 0.23.
Theravance Biopharma (NASDAQ:TBPH – Get Free Report) last announced its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.16). The company had revenue of $16.87 million for the quarter, compared to analyst estimates of $16.11 million. Theravance Biopharma had a negative net margin of 78.18% and a negative return on equity of 24.79%. During the same quarter last year, the company posted ($0.17) EPS. As a group, sell-side analysts anticipate that Theravance Biopharma, Inc. will post -1.09 earnings per share for the current year.
Insider Activity at Theravance Biopharma
In other news, SVP Rhonda Farnum sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $9.00, for a total value of $36,000.00. Following the completion of the transaction, the senior vice president now owns 322,743 shares of the company’s stock, valued at $2,904,687. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 6.90% 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.
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