Theravance Biopharma, Inc. $TBPH is Newtyn Management LLC's 2nd Largest Position

Key Points

• Newtyn Management trimmed its Theravance Biopharma stake by 29.1% in the second quarter but still held 3.43 million shares worth about $58.4 million, representing 7.4% of its portfolio and making TBPH its second-largest position.
• Theravance reported quarterly revenue of $20.73 million and a loss of $0.11 per share, missing analysts’ estimates for $22.49 million in revenue and $0.07 EPS. The stock opened at $17.05, within its 12-month range of $13.08 to $21.03.
• Analyst sentiment is largely neutral: one analyst rates TBPH a Strong Buy while seven rate it Hold, resulting in a consensus “Hold” rating and a $19.40 price target. Insiders sold approximately 350,011 shares worth $6.0 million during the latest quarter.

Newtyn Management LLC trimmed its holdings in shares of Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) by 29.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,434,191 shares of the biopharmaceutical company's stock after selling 1,407,438 shares during the period. Theravance Biopharma comprises about 7.4% of Newtyn Management LLC's portfolio, making the stock its 2nd largest position. Newtyn Management LLC owned approximately 6.61% of Theravance Biopharma worth $58,381,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TBPH. AQR Capital Management LLC purchased a new stake in shares of Theravance Biopharma in the 1st quarter worth approximately $101,000. Jane Street Group LLC boosted its stake in shares of Theravance Biopharma by 169.2% during the first quarter. Jane Street Group LLC now owns 140,884 shares of the biopharmaceutical company's stock valued at $1,258,000 after purchasing an additional 88,540 shares in the last quarter. Creative Planning purchased a new position in Theravance Biopharma during the second quarter valued at approximately $139,000. American Century Companies Inc. increased its holdings in Theravance Biopharma by 6.8% during the second quarter. American Century Companies Inc. now owns 91,501 shares of the biopharmaceutical company's stock valued at $1,009,000 after buying an additional 5,794 shares during the period. Finally, Invesco Ltd. raised its stake in Theravance Biopharma by 12.4% in the second quarter. Invesco Ltd. now owns 25,324 shares of the biopharmaceutical company's stock worth $279,000 after buying an additional 2,789 shares in the last quarter. Hedge funds and other institutional investors own 99.10% of the company's stock.

Theravance Biopharma Stock Performance

NASDAQ:TBPH opened at $17.05 on Monday. The company has a market capitalization of $885.24 million, a P/E ratio of 16.88 and a beta of 0.19. Theravance Biopharma, Inc. has a 12 month low of $13.08 and a 12 month high of $21.03. The firm has a fifty day simple moving average of $16.96 and a 200-day simple moving average of $16.61.

Theravance Biopharma (NASDAQ:TBPH - Get Free Report) last released its 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). Theravance Biopharma had a net margin of 51.58% and a negative return on equity of 0.77%. The firm had revenue of $20.73 million during the quarter, compared to analyst estimates of $22.49 million. Equities analysts forecast that Theravance Biopharma, Inc. will post 1.56 EPS for the current year.

Insider Activity

In other news, SVP Rhonda Farnum sold 13,314 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $16.39, for a total value of $218,216.46. Following the transaction, the senior vice president directly owned 232,457 shares of the company's stock, valued at approximately $3,809,970.23. This represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Eli Samaha sold 37,799 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $17.00, for a total value of $642,583.00. Following the completion of the transaction, the insider owned 9,174,453 shares of the company's stock, valued at approximately $155,965,701. The trade was a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 350,011 shares of company stock worth $6,008,309. Company insiders own 7.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TBPH. BTIG Research lowered 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. Zacks Research upgraded Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Weiss Ratings raised Theravance Biopharma from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen lowered Theravance Biopharma from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, Theravance Biopharma presently has a consensus rating of "Hold" and a consensus target price of $19.40.

Theravance Biopharma Profile

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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