Theravance Biopharma (TBPH): Increasing PT On Positive Pipeline Advancements - Guggenheim
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Guggenheim analyst, Louise Chen, reiterated her Buy rating on shares of Theravance Biopharma (NASDAQ: TBPH) and raised the price target to $40 from $30 on an increase in the DCF's the terminal multiple to 7x from 5x.
New and positive advancements in TBPH's pipeline increased the analyst's confidence in the commercial opportunity for TBPH's therapy portfolio:
1) The company now has back-up compounds for its two flagship blockbuster drugs, TD-1473 and TD-0714
2) Additional FULFIL data at ERS supports the large market opportunity for the Closed Triple
3) GSK, TBPH's partner for the Closed Triple, has decided to develop the drug for asthma as well as COPD, which could nearly double the sales potential
Shares of Theravance Biopharma closed at $33.00 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesLouise Chen, Guggenheim
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