In a report released on May 14, David Risinger from Leerink Partners reiterated a Buy rating on Theravance Biopharma (TBPH – Research Report), with a price target of $15.00.
David Risinger has given his Buy rating due to a combination of factors related to Theravance Biopharma’s promising prospects and financial performance. Risinger acknowledges Theravance’s first-quarter results for 2024, which met consensus expectations, and he highlights the potential for increased operating leverage from the company’s product, Yupelri. Furthermore, an outperformance by Trelegy could lead to a significant milestone payment in the coming year, doubling previous expectations. The company is also preparing for an event to discuss the potential of ampreloxetine, a Phase 3 asset for a rare disease, which if successful in its trial, could substantially exceed Risinger’s current price target for the stock.
Risinger’s optimism is also buoyed by ampreloxetine’s comparison to existing treatments, where it may demonstrate superior efficacy, especially for patients with multiple system atrophy. Additionally, he notes the strong intellectual property position of ampreloxetine in the US, extending through 2037. Despite conservative modeling due to variable prevalence estimates, Risinger sees a significant upside should patient numbers align closer with the company’s higher estimates. Anticipated trial results in early 2025 could catalyze further stock appreciation, reinforcing the Buy recommendation.
In another report released on May 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $20.00 price target.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TBPH in relation to earlier this year.
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Theravance Biopharma (TBPH) Company Description:
Theravance Biopharma, Inc. operates as a biopharmaceutical company. It focuses on the discovery, research, development, and commercialization of organ-selective medicines. Its products include telavancin under the VIBATIV brand, revefenacin under the TD 4208 brand, and neprilysin. The company was founded in July 2013 and is headquartered in George Town, Cayman Islands.
