Jacobs Levy Equity Management Inc. Sells 276,666 Shares of Theravance Biopharma, Inc. $TBPH

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Theravance Biopharma by 63.1% during the first quarter, resulting in ownership of approximately 161,797 shares worth $1,445,000.
• Analysts have upgraded shares of Theravance Biopharma to "strong-buy" ratings with average price targets now around $21.33, with some analysts setting a price objective as high as $25.00.
• Insider Rhonda Farnum sold 10,000 shares at an average price of $11.39, decreasing her ownership to 326,918 shares, valued at over $3.7 million.

Jacobs Levy Equity Management Inc. decreased its stake in shares of Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) by 63.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,797 shares of the biopharmaceutical company's stock after selling 276,666 shares during the period. Jacobs Levy Equity Management Inc. owned 0.32% of Theravance Biopharma worth $1,445,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its position in Theravance Biopharma by 11.9% during the 1st quarter. GSA Capital Partners LLP now owns 182,350 shares of the biopharmaceutical company's stock valued at $1,628,000 after purchasing an additional 19,363 shares during the period. Rhumbline Advisers lifted its position in Theravance Biopharma by 3.8% during the 1st quarter. Rhumbline Advisers now owns 62,254 shares of the biopharmaceutical company's stock valued at $556,000 after purchasing an additional 2,293 shares during the period. Bank of New York Mellon Corp lifted its position in Theravance Biopharma by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 117,499 shares of the biopharmaceutical company's stock valued at $1,049,000 after purchasing an additional 1,720 shares during the period. ProShare Advisors LLC acquired a new position in Theravance Biopharma during the 4th quarter valued at about $119,000. Finally, PDT Partners LLC lifted its position in Theravance Biopharma by 135.1% during the 1st quarter. PDT Partners LLC now owns 88,577 shares of the biopharmaceutical company's stock valued at $791,000 after purchasing an additional 50,901 shares during the period. 99.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TBPH. Jones Trading upgraded shares of Theravance Biopharma to a "strong-buy" rating and set a $24.00 target price on the stock in a research report on Tuesday, June 17th. BTIG Research upped their target price on shares of Theravance Biopharma from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Zacks Research downgraded shares of Theravance Biopharma from a "strong-buy" rating to a "hold" rating in a research report on Monday. B. Riley assumed coverage on shares of Theravance Biopharma in a research report on Friday, September 12th. They issued a "buy" rating and a $28.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Theravance Biopharma presently has a consensus rating of "Buy" and an average price target of $23.00.

Insider Transactions at Theravance Biopharma

In related news, SVP Rhonda Farnum sold 10,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $11.39, for a total transaction of $113,900.00. Following the completion of the sale, the senior vice president directly owned 326,918 shares of the company's stock, valued at approximately $3,723,596.02. This represents a 2.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.90% of the company's stock.

Theravance Biopharma Stock Performance

NASDAQ TBPH traded up $0.18 during trading hours on Wednesday, reaching $14.05. 304,729 shares of the company's stock were exchanged, compared to its average volume of 509,629. The company's 50-day moving average is $12.56 and its two-hundred day moving average is $10.69. Theravance Biopharma, Inc. has a one year low of $7.88 and a one year high of $14.55. The company has a market capitalization of $707.56 million, a price-to-earnings ratio of 58.54 and a beta of 0.05.

Theravance Biopharma Company Profile

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.