Theravance Biopharma’s Hold Rating: Balancing Cash Influx with Long-term Growth Uncertainty

Leerink Partners analyst David Risinger has maintained their neutral stance on TBPH stock, giving a Hold rating on June 3.

David Risinger has given his Hold rating due to a combination of factors. Theravance Biopharma recently announced a deal to sell its remaining royalty interest in Trelegy to GSK for $225 million in cash, which is expected to be received in the second quarter. This transaction provides significant cash inflow, but the exact post-tax cash amount is yet to be disclosed.
Despite this cash influx, the company’s market capitalization stands at approximately $540 million, and the next significant stock catalyst is the anticipated results from the Phase 3 Cypress study of ampreloxetine, expected in the first quarter of 2026. Therefore, while the cash from the royalty sale is a positive development, the long-term growth prospects and upcoming milestones suggest a cautious approach, justifying the Hold rating.

In another report released on June 3, TD Cowen also maintained a Hold rating on the stock with a $12.00 price target.

TBPH’s price has also changed moderately for the past six months – from $9.840 to $11.120, which is a 13.01% increase.