Theravance Biopharma (NASDAQ:TBPH) Hits New 1-Year High - Here's What Happened

Key Points

• Theravance Biopharma shares hit a new 52-week high of $14.21, with the stock last trading at $13.86 after closing at $13.15.
• Analysts are optimistic, with BTIG Research raising its target price to $25.00 and a "buy" rating, while Wall Street Zen and Jones Trading upgraded the stock to "strong-buy."
• Institutional investors own 99.10% of Theravance Biopharma, with several firms increasing their holdings in recent quarters.

Shares of Theravance Biopharma, Inc. (NASDAQ:TBPH - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $14.21 and last traded at $13.86, with a volume of 117715 shares changing hands. The stock had previously closed at $13.15.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BTIG Research raised their target price on Theravance Biopharma from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, June 27th. Wall Street Zen upgraded Theravance Biopharma from a "hold" rating to a "strong-buy" rating in a report on Saturday. Finally, Jones Trading upgraded Theravance Biopharma to a "strong-buy" rating and set a $24.00 price target on the stock in a report on Tuesday, June 17th.

Theravance Biopharma Stock Performance

The company's 50-day moving average price is $11.19 and its two-hundred day moving average price is $9.99. The stock has a market cap of $687.92 million, a PE ratio of 56.81 and a beta of 0.01.

Insider Activity

In other news, SVP Rhonda Farnum sold 24,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $11.00, for a total value of $264,000.00. Following the completion of the sale, the senior vice president owned 336,918 shares of the company's stock, valued at approximately $3,706,098. The trade was a 6.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 44,000 shares of company stock valued at $491,800. 6.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Newtyn Management LLC boosted its holdings in shares of Theravance Biopharma by 5.7% during the 4th quarter. Newtyn Management LLC now owns 4,757,403 shares of the biopharmaceutical company's stock valued at $44,767,000 after buying an additional 258,337 shares in the last quarter. Vanguard Group Inc. increased its position in Theravance Biopharma by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 2,080,463 shares of the biopharmaceutical company's stock valued at $18,579,000 after buying an additional 69,919 shares in the last quarter. Park West Asset Management LLC increased its position in Theravance Biopharma by 0.6% during the 1st quarter. Park West Asset Management LLC now owns 1,804,244 shares of the biopharmaceutical company's stock valued at $16,112,000 after buying an additional 11,256 shares in the last quarter. Geode Capital Management LLC increased its position in Theravance Biopharma by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 893,983 shares of the biopharmaceutical company's stock valued at $9,863,000 after buying an additional 3,416 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Theravance Biopharma by 9.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 833,943 shares of the biopharmaceutical company's stock valued at $7,847,000 after buying an additional 69,178 shares in the last quarter. Institutional investors own 99.10% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.