Bank of America Corp DE Raises Position in Theravance Biopharma, Inc. $TBPH

Key Points

• Bank of America increased its Theravance Biopharma position by 78.2% in the first quarter, reaching 189,155 shares worth approximately $3.07 million. Institutional investors collectively own 99.1% of TBPH.
• Theravance reported quarterly EPS of -$0.11, missing the $0.07 consensus estimate, while revenue of $20.73 million also fell short of expectations. Analysts generally rate the stock “Hold,” with an average price target of $19.40 versus a recent price of $17.05.
• Insiders sold 350,011 shares worth about $6.0 million over the past 90 days, including major shareholder Eli Samaha’s sale of 273,871 shares and SVP Rhonda Farnum’s sale of 13,314 shares.

Bank of America Corp DE boosted its holdings in Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) by 78.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 189,155 shares of the biopharmaceutical company's stock after buying an additional 82,978 shares during the period. Bank of America Corp DE owned 0.37% of Theravance Biopharma worth $3,070,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Theravance Biopharma in the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in Theravance Biopharma by 107.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,725 shares of the biopharmaceutical company's stock valued at $40,000 after acquiring an additional 1,411 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Theravance Biopharma by 18.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,013 shares of the biopharmaceutical company's stock valued at $55,000 after acquiring an additional 781 shares during the period. CIBC Private Wealth Group LLC grew its position in Theravance Biopharma by 20,269.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,685 shares of the biopharmaceutical company's stock valued at $68,000 after acquiring an additional 4,662 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in Theravance Biopharma during the first quarter worth about $101,000. Institutional investors and hedge funds own 99.10% of the company's stock.

Theravance Biopharma Stock Performance

Shares of TBPH stock opened at $17.05 on Monday. The firm has a fifty day simple moving average of $16.96 and a 200-day simple moving average of $16.61. The company has a market capitalization of $885.24 million, a PE ratio of 16.88 and a beta of 0.19. Theravance Biopharma, Inc. has a twelve month low of $13.08 and a twelve month high of $21.03.

Theravance Biopharma (NASDAQ:TBPH - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.18). The firm had revenue of $20.73 million for the quarter, compared to analysts' expectations of $22.49 million. Theravance Biopharma had a negative return on equity of 0.77% and a net margin of 51.58%. Equities research analysts predict that Theravance Biopharma, Inc. will post 1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TBPH shares. Weiss Ratings upgraded Theravance Biopharma from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 17th. Wall Street Zen downgraded shares of Theravance Biopharma from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Zacks Research upgraded shares of Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. HC Wainwright cut shares of Theravance Biopharma from a "buy" rating to a "neutral" rating and lifted their price target for the company from $15.00 to $17.00 in a research report on Tuesday, July 7th. Finally, BTIG Research cut shares of Theravance Biopharma from a "buy" rating to a "neutral" rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $19.40.

Insider Buying and Selling

In other news, major shareholder Eli Samaha sold 273,871 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $17.23, for a total transaction of $4,718,797.33. Following the completion of the transaction, the insider directly owned 9,237,279 shares in the company, valued at approximately $159,158,317.17. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rhonda Farnum sold 13,314 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $16.39, for a total transaction of $218,216.46. Following the sale, the senior vice president directly owned 232,457 shares of the company's stock, valued at $3,809,970.23. The trade was a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 350,011 shares of company stock worth $6,008,309. 7.65% of the stock is currently owned by corporate insiders.

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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