Marc Frahm, an analyst from TD Cowen, maintained the Hold rating on Theravance Biopharma. The associated price target remains the same with $13.00.
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Marc Frahm has given his Hold rating due to a combination of factors influencing Theravance Biopharma’s current financial and operational status. The company reported third-quarter collaboration revenue from Yupelri that met expectations, with sales demonstrating steady growth. This growth, alongside cost optimization efforts, allowed Theravance to achieve non-GAAP breakeven. However, the future performance of the company heavily relies on the development of its pipeline asset, ampreloxetine, which is still in the trial phase with results expected in 2026.
Despite the positive trajectory in Yupelri sales, which are on track to trigger a significant milestone payment, the uncertainty surrounding the outcome of the ampreloxetine trial contributes to a cautious outlook. Theravance’s management is focused on maintaining operational efficiency and increasing leverage, but the long-term success hinges on the successful completion and results of the ongoing clinical trials. These factors combined lead to a Hold rating, as the potential for growth is balanced by the risks associated with the pipeline’s progress.
In another report released on November 4, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $16.00 price target.