Soleil Securities Initiates Coverage on Theravance (THRX) with a Hold
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Soleil Securities initiates coverage on Theravance (Nasdaq: THRX) with a Hold. Price target $17.
Soleil analyst says, "Initiate coverage with a Hold. Discovers and develops small molecule drugs, leaving commercialization to a partner. The shares have sharply rebounded after a deep sell-off in 11/08 when they traded around $6/sh as lead product telavancin''s (intravenous antibiotic) 4Q09 approval in complicated skin infections appears baked into expectations, and GlaxoSmithKline (NYSE: GSK) will start Phase III for HORIZON (asthma/COPD) later this year. While we expect telavancin will be a good drug longer-term, launching into the hospital market in the deepest recession in recent times could result in an uphill battle."
To see more analyst ratings on THRX Click Here.
Theravance, Inc. (Theravance) is a biopharmaceutical company with a pipeline of internally discovered product candidates.
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