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Theravance Biopharma (TBPH)
NASDAQ:TBPH
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Theravance Biopharma
(NASDAQ:TBPH)
Rating:48Neutral
Price Target:
$9.00
▼( -3.23% Downside)
Positive Factors
Milestone Payments
TBPH remains eligible to receive up to $160M in milestone payments related to Yupelri monotherapy, with $25M looking increasingly achievable due to strong net sales growth.
Regulatory Progress
The regulatory application submitted by Viatris in China could lead to significant milestone payments and royalties, boosting future revenues.
Sales Growth
Yupelri net sales were $58.3M, up 6% year over year, reflecting continued strength in the franchise despite expected seasonality.
Negative Factors
Earnings Performance
TBPH reported EPS 23% below consensus, primarily due to higher-than-expected operating expenses.
Financial Results
Despite strong revenue and operating income results, the earnings per share were below expectations due to GAAP tax expenses.
Project Delays
The company now expects to complete open-label enrollment by late summer—a slight delay from the prior mid-year guidance.
Theravance Biopharma (TBPH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$465.01M
Dividend YieldN/A
Average Volume (3M)276.73K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth6.11%
EPS Growth-37.79%
CountryUS
Employees97
SectorHealthcare
Sector Strength41
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.27
Shares Outstanding50,001,330
10 Day Avg. Volume348,113
30 Day Avg. Volume276,727
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)2.57
Price to Sales (P/S)0.00
P/FCF Ratio-38.48
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$15.25Price Target Upside63.98% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
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
Neutral
9.30
Price Trends
9.22
Positive
9.27
Positive
8.99
Positive
Market Momentum
<0.01
Positive
49.32
Neutral
86.67
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TBPH, the sentiment is Neutral. The current price of 9.3 is below the 20-day moving average (MA) of 9.53, above the 50-day MA of 9.22, and above the 200-day MA of 8.99, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 49.32 is Neutral, neither overbought nor oversold. The STOCH value of 86.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 1 New Risks
1.
Our strategic review process may not result in an executed or consummated transaction or other strategic alternative, and the process of reviewing strategic alternatives or its conclusion could adversely affect our business and our shareholders. Q4, 2024
Theravance Biopharma Peers Comparison
Overall Rating
UnderperformOutperform
Sector (53)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $468.51M | ― | -75.39% | ― | -35.92% | -62.11% | |
53 Neutral | $591.77M | ― | 0.71% | ― | 91657.69% | 97.21% | |
53 Neutral | $5.14B | 3.03 | -44.09% | 2.83% | 16.75% | -0.06% | |
49 Neutral | $408.91M | ― | -63.53% | ― | -47.94% | 30.94% | |
48 Neutral | $465.01M | ― | -31.46% | ― | 6.11% | -37.79% | |
44 Neutral | $409.86M | ― | -216.14% | ― | 203.23% | -80.71% | |
40 Neutral | $551.54M | ― | -37.07% | ― | ― | 26.24% |
* Healthcare Sector Average
Performance Comparison
TBPH
Theravance Biopharma
9.30
0.89
10.58%
SAGE
SAGE Therapeutics
6.53
-5.40
-45.26%
CAPR
Capricor Therapeutics
10.25
4.15
68.03%
MGTX
Meiragtx Holdings
5.10
-0.04
-0.78%
KROS
Keros Therapeutics
14.57
-34.18
-70.11%
MNMD
Mind Medicine
7.30
-1.06
-12.68%
Theravance Biopharma Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: -6.06%|
Next Earnings Date:Aug 11, 2025
Earnings Call Sentiment Positive
Theravance Biopharma reported strong financial and operational performance, with notable growth in YUPELRI sales and Trelegy milestones. Despite some challenges related to increased operating expenses and pending litigation, the company's overall financial health and strategic advancements position it well for future success.Q1-2025 Updates
Positive Updates
Strong Performance and Growth of YUPELRI
YUPELRI delivered solid results in the quarter with net sales increasing 6% to just over $58 million. Hospital doses increased 48% year on year, marking the strongest quarter launched to date in the hospital setting.
Trelegy Sales and Milestone Progress
GSK reported Trelegy global net sales up 14%, putting the company on track to achieve a $50 million milestone in 2025. Consensus estimates for 2025 and 2026 sales have increased by approximately $100 million since the last earnings call.
Financial Strength and Cash Position
Theravance ended the quarter with $131 million in cash and no debt, reflecting a strong financial position.
Advancement in Ampreloxetine Trials
Significant progress in the Sypris Phase III trial for ampreloxetine, with enrollment expected to complete by late summer and top-line data available approximately six months later.
Potential Long-term Value from Trelegy Royalties
Royalties from Trelegy expected to return in 2029 with significant value anticipated due to strong brand performance.
Negative Updates
Increased Operating Expenses
Operating expenses, excluding share-based compensation, increased to $25 million this quarter, driven by increased Cypress patient enrollment and incremental NDA and regulatory activity.
Pending Litigation for YUPELRI
Settlement reached with five of eight paragraph four filers, with three litigations still outstanding.
One-time Tax Payment Impacting Cash Burn
A one-time tax payment in Q2 related to the $50 million TRELEGY milestone will reflect a temporary increase in cash burn.
Company Guidance
During the Theravance Biopharma First Quarter 2025 Conference Call, the company provided various metrics and guidance. YUPELRI's net sales increased by 6% to over $58 million, driven by demand growth and favorable pricing. Hospital doses rose by 48% year-over-year. The company is advancing the Sypris trial, expecting to enroll the final patient by late summer with top-line data six months later. Theravance also highlighted the potential for a $25 million milestone if YUPELRI sales reach $250 million and a $7.5 million milestone for approval in China. Trelegy sales grew 14% globally, with expectations to achieve a $50 million milestone from Royalty Pharma in 2025. The quarter ended with $131 million in cash. The company anticipates a decline in R&D costs later in the year and expects cash burn to improve, excluding a one-time tax payment related to the Trelegy milestone.Theravance Biopharma Corporate Events
Shareholder Meetings
Theravance Biopharma Holds 2025 Annual General Meeting
Neutral
May 20, 2025
At the 2025 Annual General Meeting held on May 19, Theravance Biopharma shareholders elected Class II directors and ratified the appointment of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. Additionally, a non-binding advisory resolution on executive compensation was approved, reflecting shareholder support for the company’s leadership and financial oversight.
The most recent analyst rating on (TBPH) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Theravance Biopharma stock, see the TBPH Stock Forecast page.
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.