Evercore ISI Starts Theravance Biopharma (TBPH) at Buy

August 29, 2016 7:45 AM EDT
Get Alerts TBPH Hot Sheet
Price: $30.01 -3.22%

Rating Summary:
    5 Buy, 0 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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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.

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