Franklin Resources Inc. Trims Stock Position in Theravance Biopharma, Inc. (NASDAQ:TBPH)

Franklin Resources Inc. decreased its stake in Theravance Biopharma, Inc. (NASDAQ:TBPH) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,011 shares of the biopharmaceutical company’s stock after selling 1,736 shares during the period. Franklin Resources Inc.’s holdings in Theravance Biopharma were worth $91,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Theravance Biopharma in the third quarter valued at $60,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Theravance Biopharma by 64.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,409 shares of the biopharmaceutical company’s stock valued at $76,000 after purchasing an additional 3,696 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Theravance Biopharma in the 2nd quarter valued at about $108,000. Ballentine Partners LLC purchased a new position in Theravance Biopharma during the 3rd quarter worth approximately $104,000. Finally, XTX Topco Ltd purchased a new position in Theravance Biopharma during the 2nd quarter worth approximately $129,000. 99.10% of the stock is owned by hedge funds and other institutional investors.

Theravance Biopharma Stock Performance

Shares of TBPH opened at $9.28 on Friday. Theravance Biopharma, Inc. has a fifty-two week low of $7.44 and a fifty-two week high of $11.71. The firm has a 50-day simple moving average of $9.39 and a 200-day simple moving average of $8.87. The company has a market capitalization of $456.33 million, a price-to-earnings ratio of -9.19 and a beta of 0.23.

Theravance Biopharma (NASDAQ:TBPH) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.16). The company had revenue of $16.87 million for the quarter, compared to analyst estimates of $16.11 million. Theravance Biopharma had a negative return on equity of 24.79% and a negative net margin of 78.18%. During the same period in the previous year, the business posted ($0.17) earnings per share. Equities research analysts forecast that Theravance Biopharma, Inc. will post -1.09 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Theravance Biopharma in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.75.

Insider Activity at Theravance Biopharma

In related news, SVP Rhonda Farnum sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $9.00, for a total value of $36,000.00. Following the completion of the sale, the senior vice president now owns 322,743 shares in the company, valued at $2,904,687. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.90% of the stock is currently owned by insiders.

Theravance Biopharma 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.