H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Theravance Biopharma (TBPH – Research Report) today and set a price target of $15.00.
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Douglas Tsao has given his Buy rating due to a combination of factors that highlight Theravance Biopharma’s promising future prospects. A key element is the progress in the CYPRESS study, where the final patient is expected to enroll soon, with topline results anticipated six months thereafter. This study is crucial as it focuses on ampreloxetine, for which Theravance holds full commercial rights. The company is preparing for an expedited NDA filing and aims for a priority review, which could lead to a significant milestone payment upon FDA approval. The unmet need for treatments in the MSA and nOH patient population further underscores the potential impact of ampreloxetine.
Additionally, the performance of Yupelri, Theravance’s marketed product, has been strong, with a 6% year-over-year increase in net sales driven primarily by the hospital channel. The company has seen substantial growth in hospital doses, and there is optimism for continued sales growth throughout the year. Furthermore, potential regulatory approval in China could unlock additional revenue streams, including milestone payments and royalties. These factors combined suggest a positive outlook for Theravance, justifying the Buy rating.
Tsao covers the Healthcare sector, focusing on stocks such as Protagonist Therapeutics, Evolus, and Neumora Therapeutics, Inc.. According to TipRanks, Tsao has an average return of 9.9% and a 40.45% success rate on recommended stocks.
In another report released on May 1, BTIG also maintained a Buy rating on the stock with a $24.00 price target.