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Theravance Biopharma (TBPH)
NASDAQ:TBPH
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Theravance Biopharma
(NASDAQ:TBPH)
41Neutral
Positive Factors
Milestone Payments
The regulatory application submitted by Viatris in China could lead to significant milestone payments and royalties, boosting future revenues.
Revenue Growth
Yupelri delivered 49% year-over-year growth in the hospital channel in the fourth quarter, which facilitated solid outpatient growth.
Strategic Milestones
Theravance Biopharma's price target has been increased to $12 per share, driven by improved financial performance and strategic milestones.
Negative Factors
Earnings Performance
Despite strong revenue and operating income results, the earnings per share were below expectations due to GAAP tax expenses.
Pipeline Risks
Key risks include clinical development on key pipeline assets, especially ampreloxetine, commercial on execution of Yupelri.
Theravance Biopharma (TBPH) vs. S&P 500 (SPY)
Market Cap
$433.86M
Dividend YieldN/A
Average Volume (3M)271.71K
Price to Earnings (P/E)―
Beta (1Y)0.75
Revenue Growth12.12%
EPS Growth-19.00%
CountryUS
Employees97
SectorHealthcare
Sector Strength79
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.15
Shares Outstanding49,470,646
10 Day Avg. Volume213,711
30 Day Avg. Volume271,715
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)7.22
Price to Cash Flow (P/CF)-128.80
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$12.33Price Target Upside46.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Theravance Biopharma Business Overview & Revenue Model
Company DescriptionTheravance Biopharma, Inc. is a biopharmaceutical company primarily focused on the discovery, development, and commercialization of small-molecule medicines for the treatment of respiratory, gastrointestinal, and infectious diseases, as well as other serious conditions. The company is headquartered in Dublin, Ireland, and engages in research and development activities aiming to deliver innovative therapies that address unmet medical needs.
How the Company Makes MoneyTheravance Biopharma generates revenue through the development and commercialization of proprietary pharmaceutical products and through strategic collaborations with larger pharmaceutical companies. A significant portion of its earnings comes from royalties and milestone payments related to its partnered programs. The company's collaborations and licensing agreements are critical in advancing its product candidates, sharing development costs, and accessing broader market channels. Additionally, any approved products contribute to revenue through direct sales or through collaborations with other companies that manage the marketing and distribution.
Theravance Biopharma Financial Statement Overview
Summary
Theravance Biopharma faces ongoing financial challenges, primarily due to consistent losses and negative margins. While there has been revenue growth and an improvement in equity position, significant efforts are needed to enhance operational efficiency and cash flow stability. Debt levels are manageable, but sustained profitability remains elusive.Income Statement
Theravance Biopharma's income statement reveals challenges with consistent losses over recent years. The net profit margin remains negative at -87.65% for 2024, indicating profitability issues. Despite a revenue growth rate of 12.11% in 2024, improvements in cost management are needed, as evidenced by the negative EBIT and EBITDA margins.35
Negative
Balance Sheet
The balance sheet shows improvement in stockholders' equity, turning positive in 2024 to $175.5 million. However, the debt-to-equity ratio of 0.28 suggests manageable leverage, but historical volatility in equity raises concerns. The equity ratio stands at 49.57%, indicating a balanced structure between debt and equity financing.45
Neutral
Cash Flow
The cash flow situation remains tight with a negative free cash flow of $-11.87 million in 2024. The operating cash flow to net income ratio is negative, pointing to operational inefficiencies. While there is a significant improvement in free cash flow from the previous year, stabilization is needed.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 64.38M | 57.42M | 51.35M | 55.31M | 71.86M | Gross Profit |
| 64.38M | 16.80M | 44.76M | 48.02M | -189.10M | EBIT |
| -46.95M | -56.03M | -91.96M | -257.78M | -297.76M | EBITDA |
| -46.95M | -40.87M | -79.86M | -249.39M | -294.00M | Net Income Common Stockholders |
| -56.42M | -55.19M | -92.82M | -199.43M | -278.02M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 88.35M | 102.43M | 327.48M | 173.47M | 292.94M | Total Assets |
| 354.16M | 382.00M | 607.40M | 374.82M | 469.06M | Total Debt |
| 49.82M | 49.16M | 74.12M | 652.08M | 647.06M | Net Debt |
| 12.02M | 9.61M | -224.05M | 562.12M | 565.59M | Total Liabilities |
| 178.62M | 169.00M | 165.60M | 713.39M | 772.81M | Stockholders Equity |
| 175.54M | 213.00M | 441.80M | -338.57M | -303.75M |
| Cash Flow | Free Cash Flow | |||
| -11.87M | -29.48M | -187.56M | -211.26M | -257.02M | Operating Cash Flow |
| -11.54M | -27.00M | -186.99M | -207.86M | -250.40M | Investing Cash Flow |
| 12.28M | -32.70M | 1.15B | 124.49M | 10.72M | Financing Cash Flow |
| -2.50M | -198.93M | -758.81M | 91.86M | 263.08M |
Theravance Biopharma Technical Analysis
Negative
8.44
Price Trends
9.36
Negative
9.40
Negative
8.99
Negative
Market Momentum
-0.06
Positive
42.06
Neutral
24.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TBPH, the sentiment is Negative. The current price of 8.44 is below the 20-day moving average (MA) of 9.21, below the 50-day MA of 9.36, and below the 200-day MA of 8.99, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 42.06 is Neutral, neither overbought nor oversold. The STOCH value of 24.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TBPH.
Theravance Biopharma Risk Analysis
Theravance Biopharma disclosed 46 risk factors in its most recent earnings report. Theravance Biopharma reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Theravance Biopharma Peers Comparison
Overall Rating
UnderperformOutperform
Sector (48)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $2.69B | 11.85 | 38.89% | ― | 31.85% | ― | |
70 Outperform | $315.37M | 18.17 | 531.78% | ― | 53.38% | ― | |
66 Neutral | $1.13B | 84.70 | 3.42% | ― | 14.88% | -86.70% | |
60 Neutral | $751.23M | ― | 222.83% | ― | 23.89% | 16.86% | |
48 Neutral | $6.86B | 1.11 | -50.22% | 2.47% | 16.71% | 1.53% | |
42 Neutral | $2.72B | ― | -17.90% | ― | ― | -10.27% | |
41 Neutral | $433.86M | ― | -29.04% | ― | 12.12% | -19.00% |
* Healthcare Sector Average
Performance Comparison
TBPH
Theravance Biopharma
8.44
-1.03
-10.88%
ACAD
ACADIA Pharmaceuticals
15.38
-2.42
-13.60%
RIGL
Rigel
17.24
4.64
36.83%
INVA
Innoviva
17.72
2.99
20.30%
VKTX
Viking Therapeutics
22.62
-53.26
-70.19%
XERS
Xeris Pharmaceuticals
4.41
2.39
118.32%
Theravance Biopharma Earnings Call Summary
Earnings Call Date: Feb 26, 2025 | % Change Since: -7.05% | Next Earnings Date: May 13, 2025
Earnings Call Sentiment Positive
Theravance Biopharma had a strong fourth quarter in 2024 with record sales in YUPELRI and significant milestone payments from TRELEGY. The company demonstrated solid progress in ampreloxetine development and maintained a strong financial position. However, potential seasonal sales declines and increased operating expenses were noted. Overall, the positive achievements and growth trajectory outweigh the concerns.Highlights
Record YUPELRI Net Sales
Fourth quarter YUPELRI net sales increased 10% over the fourth quarter of 2023, reaching $66.7 million, an all-time high. Hospital doses were up 49% year-over-year.
TRELEGY Sales and Milestone Achievement
GSK reported full year TRELEGY sales of $3.5 billion, up 26% year-over-year, triggering a $50 million milestone payment to Theravance.
Ampreloxetine Development Progress
Solid enrollment in the CYPRESS study and positive FDA interactions reaffirmed expectations for expedited NDA filing contingent on positive results.
Financial Position Strength
Theravance ended 2024 with $88 million in cash and no debt, excluding a recent $50 million milestone receipt.
Lowlights
Potential Seasonal Decline in YUPELRI Sales
Management noted typical seasonal dips in reported net sales as the transition from the fourth quarter to the first quarter occurs.
Increased Operating Expenses
Operating expenses excluding share-based comp increased to $22 million due to incremental commercial and medical affairs spend on ampreloxetine prelaunch activities.
Company Guidance
During the Theravance Biopharma Fourth Quarter and Full Year 2024 Conference Call, the company reported several key metrics and guidance. YUPELRI's fourth quarter net sales rose by 10% year-over-year to $66.7 million, with full-year sales reaching $239 million. Hospital doses increased by 49% year-over-year. The company also expects a $25 million U.S. sales milestone and potential income from China pending approval. TRELEGY's full-year sales by GSK reached $3.5 billion, triggering a $50 million milestone payment, with an additional $150 million possible in the next 24 months. For ampreloxetine, Theravance anticipates completing CYPRESS study enrollment by mid-2025 and plans for a New Drug Application (NDA) filing, aiming for priority review. Financial guidance for 2025 includes R&D expenses of $32-38 million and SG&A expenses of $50-60 million, with anticipated non-GAAP losses similar to 2024 levels.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.