Theravance Biopharma price target raised to $24 from $21 at BTIG

BTIG raised the firm’s price target on Theravance Biopharma (TBPH) to $24 from $21 and keeps a Buy rating on the shares. The company’s Q1 TRELEGY revenue was up 14% y/y and beat consensus, and the firm views the strong quarterly result as a clear indication of TRELEGY’s continued momentum as the preferred QD LAMA/LABA/ICS combo in COPD and asthma, the analyst tells investors in a research note.