Evercore ISI Starts Theravance Biopharma (TBPH) at Buy

August 29, 2016 7:45 AM EDT
Get Alerts TBPH Hot Sheet
Price: $26.55 -19.5%

Rating Summary:
    3 Buy, 0 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 28 | New: 8
Trade TBPH Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Evercore ISI initiates coverage on Theravance Biopharma (NASDAQ: TBPH) with a Buy rating and a price target of $41.00.

Analyst Umer Raffat notes the key focus is around a gut-release pan-JAK inhibitor for ulcerative colitis & crohn's disease. Potential proof of concept data possible in 1H:17.

He said if

Theravance can show Xeljanz-like efficacy (despite minimal systemic exposure), this program may generate a lot of excitement.

Risk/reward on data is skewed to the upside - 2:1:

- JAK fails completely --> $18/share

- JAK makes us feel comfortable assigning at least 25% probability of success --> $46/share

- Current stock price: $28/share

For an analyst ratings summary and ratings history on Theravance Biopharma click here. For more ratings news on Theravance Biopharma click here.

Shares of Theravance Biopharma closed at $28.18 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Hot New Coverage, New Coverage

Related Entities

Umer Raffat

Add Your Comment