BTIG raised the firm’s price target on Theravance Biopharma (TBPH) to $25 from $24 and keeps a Buy rating on the shares. Yupelri has been approved in China, triggering the $7.5M milestone payment owed to the company, the analyst tells investors in a research note. Looking ahead, Theravance is eligible to receive up to $37.5M in sales-based milestones and 14%-20% tiered royalties on Yupelri net sales in China in addition to the milestone payment, the firm added.
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