Analyst Douglas Tsao of H.C. Wainwright reiterated a Buy rating on Theravance Biopharma (TBPH – Research Report), with a price target of $20.00.
Douglas Tsao’s Buy rating for Theravance Biopharma is based on several notable factors. Firstly, Theravance’s product, Yupelri, continues to perform well, with a 15% Q/Q increase and a 12% YoY increase in net sales. Theravance’s share of the long-acting nebulized COPD market, in both hospital and community settings, has also increased. The company’s market share is expected to continue growing, as it educates on the concomitant use of Yupelri and the anticipated results from the PIFR-2 study.
Secondly, Theravance has recently settled a patent litigation with Teva, allowing ample time for the company to grow its franchise. There is ongoing litigation with six other ANDA filers, but Tsao believes they will also eventually settle on similar terms. Theravance is also expecting enrollment completion for the CYPRESS Phase 3 study by 2H24. Moreover, Theravance has improved its profitability, narrowing its non-GAAP loss to $0.7M and targeting to achieve non-GAAP profitability in 4Q. Tsao also notes the company’s financial strength with over $134M cash on the balance sheet, an aspect he believes is not fully appreciated by investors.
According to TipRanks, Tsao is a 3-star analyst with an average return of 0.6% and a 34.54% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Coherus Biosciences, and Revance Therapeutics.
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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.
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