Wedge Capital Management L L P NC Buys Shares of 128,845 Theravance Biopharma, Inc. $TBPH

Key Points

• Wedge Capital Management purchased 128,845 shares of Theravance Biopharma valued at approximately $2.19 million, representing about 0.25% of the company. Institutional investors collectively own 99.10% of TBPH.
• Theravance Biopharma reported quarterly revenue of $20.73 million and an adjusted loss of $0.11 per share, missing analyst expectations of $22.49 million in revenue and $0.07 EPS.
• TBPH shares were trading near $16.97, while analysts maintained a consensus “Hold” rating with a $19.40 price target; insider selling totaled 350,011 shares worth about $6.01 million over the past three months.

Wedge Capital Management L L P NC purchased a new position in shares of Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 128,845 shares of the biopharmaceutical company's stock, valued at approximately $2,190,000. Wedge Capital Management L L P NC owned about 0.25% of Theravance Biopharma as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Theravance Biopharma during the third quarter worth $10,611,000. Pacer Advisors Inc. bought a new position in Theravance Biopharma during the fourth quarter worth $6,342,000. Janus Henderson Group PLC lifted its holdings in Theravance Biopharma by 214.8% in the fourth quarter. Janus Henderson Group PLC now owns 400,496 shares of the biopharmaceutical company's stock valued at $7,493,000 after buying an additional 273,288 shares during the period. Two Sigma Investments LP boosted its position in Theravance Biopharma by 1,199.9% during the third quarter. Two Sigma Investments LP now owns 231,272 shares of the biopharmaceutical company's stock valued at $3,377,000 after acquiring an additional 213,480 shares during the last quarter. Finally, HRT Financial LP grew its holdings in Theravance Biopharma by 892.8% during the 4th quarter. HRT Financial LP now owns 232,852 shares of the biopharmaceutical company's stock worth $4,356,000 after acquiring an additional 209,397 shares during the period. Institutional investors and hedge funds own 99.10% of the company's stock.

Insider Activity

In related news, SVP Rhonda Farnum sold 13,314 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $16.39, for a total value of $218,216.46. Following the sale, the senior vice president owned 232,457 shares in the company, valued at $3,809,970.23. This represents a 5.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Eli Samaha sold 37,799 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $17.00, for a total transaction of $642,583.00. Following the completion of the sale, the insider owned 9,174,453 shares in the company, valued at $155,965,701. This represents a 0.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 350,011 shares of company stock valued at $6,008,309. 7.65% of the stock is currently owned by insiders.

Theravance Biopharma Trading Up 0.3%

NASDAQ TBPH opened at $16.97 on Friday. The company has a market cap of $881.08 million, a P/E ratio of 16.80 and a beta of 0.19. The company has a fifty day simple moving average of $16.86 and a 200 day simple moving average of $16.81. Theravance Biopharma, Inc. has a 12-month low of $12.78 and a 12-month high of $21.03.

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

Wall Street Analysts Forecast Growth

TBPH has been the subject of several research analyst reports. Zacks Research raised Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. JonesTrading lowered Theravance Biopharma from a "buy" rating to a "hold" rating in a research report on Monday, June 29th. BTIG Research cut Theravance Biopharma from a "buy" rating to a "neutral" rating in a research note on Monday, June 29th. Weiss Ratings upgraded Theravance Biopharma from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. Finally, 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 research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $19.40.

Theravance Biopharma Company 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.

Want to see what other hedge funds are holding TBPH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Theravance Biopharma, Inc. (NASDAQ:TBPH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source