Needham & Company Starts Theravance Biopharma (TBPH) at Buy

Needham & Company initiates coverage on Theravance Biopharma (NASDAQ: TBPH) with a Buy rating and a price target of $40.00.

Analyst Alan Carr commented, "We are initiating coverage of Theravance with a BUY rating and $40 price target. The company has a diversified strategy and pipeline, with a mix of internal and out-licensed programs across various indications, all derived from a small molecule drug discovery platform. TBPH recently announced positive results from Phase 3 trials of revefenacin in COPD, which we expect to be commercialized with collaborator Mylan in 2H18. Results are expected from several programs in 2017, including TD-1473 in Ulcerative Colitis (Phase 1b), velusetrag in Gastroparesis (Phase 2), TD-9855 in Neurogenic Orthostatic Hypotension (Phase 2), and TD-1439 in Heart Failure (Phase 1). TD-1473 is of particular interest and likely to drive the stock next year. We have a favorable bias based on preclinical and early clinical data."

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 $31.55 yesterday.

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