Arrowstreet Capital Limited Partnership Sells 635,711 Shares of Theravance Biopharma, Inc. $TBPH

Arrowstreet Capital Limited Partnership reduced its stake in shares of Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) by 66.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 327,546 shares of the biopharmaceutical company's stock after selling 635,711 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.64% of Theravance Biopharma worth $5,316,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TBPH. AQR Capital Management LLC purchased a new position in Theravance Biopharma in the 1st quarter worth about $101,000. Jane Street Group LLC grew its stake in Theravance Biopharma by 169.2% in the 1st quarter. Jane Street Group LLC now owns 140,884 shares of the biopharmaceutical company's stock worth $1,258,000 after acquiring an additional 88,540 shares in the last quarter. Creative Planning bought a new position in Theravance Biopharma in the 2nd quarter worth about $139,000. American Century Companies Inc. increased its position in shares of Theravance Biopharma by 6.8% during the second quarter. American Century Companies Inc. now owns 91,501 shares of the biopharmaceutical company's stock worth $1,009,000 after acquiring an additional 5,794 shares during the period. Finally, Invesco Ltd. increased its position in shares of Theravance Biopharma by 12.4% during the second quarter. Invesco Ltd. now owns 25,324 shares of the biopharmaceutical company's stock worth $279,000 after acquiring an additional 2,789 shares during the period. 99.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Eli Samaha sold 273,871 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $17.23, for a total value of $4,718,797.33. Following the completion of the transaction, the insider directly owned 9,237,279 shares of the company's stock, valued at approximately $159,158,317.17. The trade was a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rhonda Farnum sold 13,314 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $16.39, for a total value of $218,216.46. Following the completion of the transaction, the senior vice president directly owned 232,457 shares of the company's stock, valued at approximately $3,809,970.23. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 350,011 shares of company stock worth $6,008,309 over the last quarter. Company insiders own 7.65% of the company's stock.

Theravance Biopharma Price Performance

Shares of TBPH stock opened at $16.86 on Monday. The firm has a market cap of $869.13 million, a price-to-earnings ratio of 7.66 and a beta of 0.19. The company's 50 day moving average is $16.71 and its 200 day moving average is $17.03. Theravance Biopharma, Inc. has a 52-week low of $10.82 and a 52-week high of $21.03.

Theravance Biopharma (NASDAQ:TBPH - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The biopharmaceutical company reported ($0.10) EPS for the quarter. The business had revenue of $17.70 million during the quarter. Theravance Biopharma had a return on equity of 18.84% and a net margin of 104.34%. Analysts anticipate that Theravance Biopharma, Inc. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright lowered Theravance Biopharma from a "buy" rating to a "neutral" rating and boosted their price target for the company from $15.00 to $17.00 in a report on Tuesday, July 7th. BTIG Research downgraded Theravance Biopharma from a "buy" rating to a "neutral" rating in a report on Monday, June 29th. JonesTrading lowered Theravance Biopharma from a "buy" rating to a "hold" rating in a research report on Monday, June 29th. B. Riley Financial upped their target price on Theravance Biopharma from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Finally, Wall Street Zen downgraded Theravance Biopharma from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Eight research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.40.

About Theravance Biopharma

Theravance Biopharma is a biopharmaceutical company focused on the discovery, development and commercialization of innovative medicines, primarily in the areas of respiratory disease, inflammatory and immunology, and rare disorders. The company develops small-molecule therapies designed to address unmet medical needs by targeting specific molecular pathways. Its lead marketed product, YUPELRI® (revefenacin) inhalation solution, is the first and only once-daily, long-acting muscarinic antagonist (LAMA) approved by the U.S.

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