Theravance Biopharma, Inc. $TBPH Shares Sold by Jacobs Levy Equity Management Inc.

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. cut its stake in Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) by 63.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,797 shares of the biopharmaceutical company's stock after selling 276,666 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.32% of Theravance Biopharma worth $1,445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TBPH. AQR Capital Management LLC acquired a new position in Theravance Biopharma during the first quarter valued at approximately $101,000. PDT Partners LLC lifted its position in Theravance Biopharma by 135.1% during the first quarter. PDT Partners LLC now owns 88,577 shares of the biopharmaceutical company's stock valued at $791,000 after buying an additional 50,901 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Theravance Biopharma during the first quarter valued at approximately $419,000. State of Wyoming lifted its position in Theravance Biopharma by 36.2% during the first quarter. State of Wyoming now owns 17,909 shares of the biopharmaceutical company's stock valued at $160,000 after buying an additional 4,758 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in Theravance Biopharma by 9.5% during the first quarter. Trexquant Investment LP now owns 165,424 shares of the biopharmaceutical company's stock valued at $1,477,000 after buying an additional 14,341 shares in the last quarter. 99.10% of the stock is owned by institutional investors and hedge funds.

Theravance Biopharma Price Performance

TBPH stock opened at $13.70 on Friday. Theravance Biopharma, Inc. has a 1-year low of $7.88 and a 1-year high of $14.55. The firm has a fifty day moving average price of $12.33 and a two-hundred day moving average price of $10.56. The firm has a market cap of $689.93 million, a price-to-earnings ratio of 57.08 and a beta of 0.05.

Insider Activity at Theravance Biopharma

In related news, SVP Rhonda Farnum sold 10,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $11.39, for a total value of $113,900.00. Following the completion of the transaction, the senior vice president owned 326,918 shares in the company, valued at $3,723,596.02. This represents a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TBPH. Zacks Research upgraded shares of Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 15th. Wall Street Zen upgraded shares of Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Jones Trading upgraded shares of Theravance Biopharma to a "strong-buy" rating and set a $24.00 price objective on the stock in a research note on Tuesday, June 17th. Finally, BTIG Research lifted their price objective on shares of Theravance Biopharma from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Strong Buy" and an average price target of $21.33.

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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