The Manufacturers Life Insurance Company Decreases Stake in Theravance Biopharma, Inc. (NASDAQ:TBPH)

The Manufacturers Life Insurance Company lessened its holdings in shares of Theravance Biopharma, Inc. (NASDAQ:TBPH) by 12.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,623 shares of the biopharmaceutical company’s stock after selling 2,431 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Theravance Biopharma were worth $141,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new stake in shares of Theravance Biopharma in the second quarter worth $986,000. Marshall Wace LLP increased its holdings in Theravance Biopharma by 83.6% in the 2nd quarter. Marshall Wace LLP now owns 297,499 shares of the biopharmaceutical company’s stock valued at $2,523,000 after purchasing an additional 135,426 shares in the last quarter. Bank of Montreal Can raised its position in Theravance Biopharma by 141.0% in the second quarter. Bank of Montreal Can now owns 160,138 shares of the biopharmaceutical company’s stock valued at $1,414,000 after purchasing an additional 93,702 shares during the period. XTX Topco Ltd acquired a new position in shares of Theravance Biopharma during the second quarter worth about $129,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Theravance Biopharma during the second quarter worth about $108,000. Hedge funds and other institutional investors own 99.10% of the company’s stock.

Theravance Biopharma Price Performance

TBPH opened at $8.80 on Friday. The business has a 50 day moving average price of $8.18 and a two-hundred day moving average price of $8.77. The company has a market capitalization of $430.50 million, a price-to-earnings ratio of -9.57 and a beta of 0.25. Theravance Biopharma, Inc. has a 1-year low of $7.44 and a 1-year high of $11.71.

Theravance Biopharma (NASDAQ:TBPH) last announced its quarterly earnings data on Monday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.25). Theravance Biopharma had a negative return on equity of 21.29% and a negative net margin of 73.61%. The business had revenue of $14.26 million during the quarter, compared to analyst estimates of $15.81 million. During the same period in the prior year, the firm earned ($0.28) EPS. Equities analysts expect that Theravance Biopharma, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TBPH shares. TD Cowen dropped their target price on Theravance Biopharma from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Leerink Partnrs downgraded shares of Theravance Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. StockNews.com downgraded shares of Theravance Biopharma from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Leerink Partners lowered shares of Theravance Biopharma from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $15.00 to $10.00 in a report on Tuesday, August 6th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Theravance Biopharma in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.75.

Insider Activity at Theravance Biopharma

In other news, major shareholder Eli Samaha acquired 999,800 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $7.80 per share, for a total transaction of $7,798,440.00. Following the transaction, the insider now owns 9,511,150 shares in the company, valued at approximately $74,186,970. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is owned by insiders.

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.