Theravance Biopharma (TBPH): Cutting PT But Only On Increased Sharecount - Leerink
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Leerink Partners analyst, Geoffrey Porges, reiterated his Outperform rating on shares of Theravance Biopharma (NASDAQ: TBPH) but cut the price target to $33.00 from $35.00) after last week's financing event.
The analyst stated that the new target price reflects the higher expected share count after the company's new equity issuance; not an altered outlook for the company, or its prospects.
Shares of Theravance Biopharma closed at $25.42 yesterday.
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