Oppenheimer Downgrades Theravance Biopharma (TBPH) to Perform

Oppenheimer analyst Trevor Allred downgraded Theravance Biopharma (NASDAQ: TBPH) from Outperform to Perform.

The analyst comments "Wednesday's negative Phase 3 result was not overly surprisingly, though the lack of detail suggests minimal activity is not worthy of an NDA filing despite other approved nOH assets demonstrating lackluster data. TBPH shares are trading down to the $12-14 downside range we saw as a possibility in our initiation. We remove ampreloxetine expectations from our model and step to the sidelines with limited visibility into upside drivers for shares from here. Our rating goes to Perform from Outperform."

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 $13.67 yesterday.

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