State Board of Administration of Florida Retirement System Has $254,000 Stock Position in Theravance Biopharma, Inc. (NASDAQ:TBPH)

Posted by Defense World Staff on May 22nd, 2023

State Board of Administration of Florida Retirement System trimmed its position in Theravance Biopharma, Inc. (NASDAQ:TBPH – Get Rating) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,671 shares of the biopharmaceutical company’s stock after selling 3,790 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Theravance Biopharma were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Weiss Asset Management LP lifted its stake in shares of Theravance Biopharma by 19.6% in the third quarter. Weiss Asset Management LP now owns 7,457,060 shares of the biopharmaceutical company’s stock worth $75,615,000 after buying an additional 1,219,622 shares during the last quarter. Vanguard Group Inc. increased its holdings in Theravance Biopharma by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 6,947,947 shares of the biopharmaceutical company’s stock valued at $66,421,000 after buying an additional 648,124 shares during the period. BlackRock Inc. increased its holdings in Theravance Biopharma by 1.7% in the 3rd quarter. BlackRock Inc. now owns 5,107,527 shares of the biopharmaceutical company’s stock valued at $51,789,000 after buying an additional 84,787 shares during the period. State Street Corp increased its holdings in Theravance Biopharma by 13.3% in the 1st quarter. State Street Corp now owns 1,541,533 shares of the biopharmaceutical company’s stock valued at $14,737,000 after buying an additional 181,331 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Theravance Biopharma by 184.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 976,373 shares of the biopharmaceutical company’s stock valued at $9,335,000 after buying an additional 632,582 shares during the period.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TBPH shares. StockNews.com started coverage on shares of Theravance Biopharma in a research note on Thursday. They issued a “hold” rating on the stock. HC Wainwright boosted their target price on shares of Theravance Biopharma from $19.00 to $20.00 in a research note on Tuesday, May 9th.

Insider Activity

In other news, SVP Rhonda Farnum sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $10.20, for a total value of $40,800.00. Following the completion of the sale, the senior vice president now directly owns 360,190 shares of the company’s stock, valued at approximately $3,673,938. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Rhonda Farnum sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $10.20, for a total value of $40,800.00. Following the completion of the sale, the senior vice president now directly owns 360,190 shares of the company’s stock, valued at approximately $3,673,938. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Graham sold 2,322 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $11.26, for a total value of $26,145.72. Following the sale, the senior vice president now directly owns 367,172 shares of the company’s stock, valued at $4,134,356.72. The disclosure for this sale can be found here. Insiders sold a total of 13,291 shares of company stock valued at $141,862 in the last ninety days. 5.30% of the stock is owned by insiders.

Theravance Biopharma Stock Up 2.9 %

Shares of NASDAQ TBPH opened at $11.21 on Monday. The firm’s 50-day simple moving average is $11.04 and its 200 day simple moving average is $10.83. The company has a market cap of $647.94 million, a price-to-earnings ratio of 0.97 and a beta of 0.50. Theravance Biopharma, Inc. has a 12-month low of $7.53 and a 12-month high of $12.03.

Theravance Biopharma (NASDAQ:TBPH – Get Rating) last released its earnings results on Monday, February 27th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Theravance Biopharma had a net margin of 1,803.67% and a negative return on equity of 22.72%. The business had revenue of $14.65 million for the quarter, compared to analyst estimates of $18.25 million. On average, equities analysts expect that Theravance Biopharma, Inc. will post -0.91 earnings per share for the current year.

About Theravance Biopharma

(Get Rating)

Theravance Biopharma, Inc is a diversified biopharmaceutical company primarily focused on the discovery, development and commercialization of organ-selective medicines. Its purpose is to pioneer a new generation of small molecule drugs designed to better meet patient needs. Its research is focused in the areas of inflammation and immunology.
In pursuit of its purpose, Theravance Biopharma applies insights and innovation at each stage of its business and utilizes its internal capabilities and those of partners around the world.