Theravance Biopharma (TBPH) AI Stock Analysis

• Market Cap: $964.30M
• Dividend Yield: N/A
• Average Volume (3M): 389.35K
• Price to Earnings (P/E): 34.1
• Beta (1Y): 0.96
• Revenue Growth: 27.12%
• EPS Growth: N/A
• Country: US
• Employees: 97
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 0.07
• Shares Outstanding: 50,672,432
• 10 Day Avg. Volume: 294,377
• 30 Day Avg. Volume: 389,348
• PEG Ratio: -0.54
• Price to Book (P/B): 2.62
• Price to Sales (P/S): 7.14
• P/FCF Ratio: -38.73
• Enterprise Value/Market Cap: 0.87
• Enterprise Value/Revenue: 10.48
• Enterprise Value/Gross Profit: 16.74
• Enterprise Value/Ebitda: -32.57
• 1Y Price Target: $28.40
• Price Target Upside: 49.24% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: $20.50 ▲(7.72% Upside)

The score is driven primarily by a strong, positive earnings-call outlook (record YUPELRI performance, breakeven execution, sizable cash with no debt, and near-term milestone catalysts) and supportive technical momentum (price above key moving averages with positive MACD). Offsetting these positives are only mid-range underlying financial performance due to negative EBIT/EBITDA margins and a merely moderate valuation profile with a high P/E and no dividend yield.

Positive Factors

Strong cash position & no debt

A $333M cash balance with no debt provides durable financial flexibility to fund ongoing R&D, pivotal trial execution, and commercialization without immediate financing. This reduces dilution risk, supports milestone-driven investments, and enables opportunistic capital returns or M&A over the next several quarters.

Growing YUPELRI sales & IP runway

Sustained 15% YoY growth for YUPELRI and intellectual property protection into 2039 create a durable revenue anchor. This strengthens commercial credibility, supports partner milestones, and provides a predictable cash flow base to invest in new assets and reduce reliance on one-time financing events.

High cash conversion and milestone visibility

Very strong operating cash conversion ratios indicate efficient cash generation from current operations, improving funding self-sufficiency. Combined with visible near-term sales-based milestones (~$75–$175M cited), this supports sustained investment in pipeline programs while limiting need for frequent external capital.

Negative Factors

Negative EBIT/EBITDA margins

Persistent negative EBIT and EBITDA margins point to structural operating cost pressures despite recent net margin improvement. Long-term profitability depends on expanding commercial scale or cutting operating costs; otherwise, reliance on non-operating items and milestones could mask fragile core earnings sustainability.

Modest revenue growth and limited scale

Overall topline growth remains modest, reflecting limited commercial scale outside core products. A narrow revenue base constrains ability to absorb R&D and fixed costs, making durable margin expansion and reinvestment harder without successful new approvals or larger, sustained product adoption.

Execution risk on rare‑disease trial

Ampreloxetine's Phase III readout is a binary, strategic milestone but rare‑disease trials face enrollment, operational and regulatory hurdles. Execution delays or negative outcomes would materially impair projected revenue streams and milestone realizations, stressing the company’s mid‑term growth trajectory.

Theravance Biopharma Business Overview & Revenue Model

Company Description

Theravance Biopharma, Inc., a biopharmaceutical company, discovers, develops, and commercializes respiratory medicines in the United States, Europe, and Asia. The company offers YUPELRI, a once-daily, nebulized long-acting muscarinic antagonist used for the treatment of chronic obstructive pulmonary disease (COPD). Its product portfolio also include Izencitinib, a gut-selective pan-janus kinase (JAK) inhibitor that is in Phase IIb/III clinical trials for the treatment of rheumatoid arthritis, myelofibrosis, and ulcerative colitis, as well as for a range of inflammatory intestinal diseases, including ulcerative colitis and Crohn's disease. In addition, the company's product portfolio comprise Ampreloxetine, an investigational norepinephrine reuptake inhibitor that has completed Phase III study for neurogenic orthostatic hypotension; Nezulcitinib, a lung-selective, nebulized JAK inhibitor, which is in Phase II clinical development for the potential treatment of hospitalized patients with acute lung injury caused by COVID-19; Inhaled ALK5i, a potential inhaled anti-fibrotic agent that is in Phase I for the treatment of idiopathic pulmonary fibrosis; and TD-5202, an investigational, orally administered, gut-selective, irreversible JAK3 inhibitor that is in Phase I clinical study for treatment of inflammatory intestinal diseases. Further, it offers TRELEGY for the treatment of COPD and asthma; Velusetrag, an oral and investigational medicine for gastrointestinal motility disorders; and Selective 5-HT4 Agonist for treatment of gastrointestinal motility disorders. It has a licensing and collaboration agreements with Pfizer Inc., Viatris Inc., Janssen Biotech, Inc., Alfasigma S.p.A, and Takeda Pharmaceutical Company Limited. Theravance Biopharma, Inc. was incorporated in 2013 and is based in George Town, the Cayman Islands.

How the Company Makes Money

Theravance Biopharma generates revenue primarily through the commercialization of its pharmaceutical products. Key revenue streams include product sales from its approved therapies, such as the inhaled dual bronchodilator, YUPELRI (revefenacin), which is used for the treatment of chronic obstructive pulmonary disease (COPD). The company may also earn revenue through strategic partnerships and collaborations with other biopharmaceutical firms, where they may receive milestone payments, royalties on sales, and research funding. Additionally, Theravance could potentially benefit from licensing agreements that allow other companies to develop and market its products, further diversifying its revenue sources.

Theravance Biopharma Financial Statement Overview

Summary

Financial statements indicate a recovery with positive TTM net margin (16.88%) and strong cash conversion (operating cash flow to net income 4.48; free cash flow to net income ~1). However, negative EBIT/EBITDA margins and only modest revenue growth (4.04%) keep the score in the mid-range despite low leverage noted in the balance sheet assessment.

Income Statement

Theravance Biopharma's income statement shows a mixed performance. The company has achieved a positive net profit margin of 16.88% in the TTM period, a significant improvement from previous losses. However, the EBIT and EBITDA margins remain negative, indicating ongoing operational challenges. Revenue growth is modest at 4.04%, suggesting a slow recovery. The gross profit margin is strong at 100% in the TTM, but historical volatility in profitability is a concern.

Balance Sheet

The balance sheet reflects moderate financial stability. The debt-to-equity ratio is low at 0.21, indicating manageable leverage. Return on equity has improved to 8.18% in the TTM, showing better utilization of equity. However, the equity ratio is not explicitly provided, and historical fluctuations in equity levels suggest potential risks.

Cash Flow

Theravance Biopharma's cash flow statement indicates strong cash flow management in the TTM period. The operating cash flow to net income ratio is robust at 4.48, and free cash flow to net income is nearly 1, showing efficient cash conversion. Despite a slight decline in free cash flow growth, the company has improved its cash flow position significantly compared to previous years.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	80.33M	64.38M	57.42M	51.35M	55.31M	71.86M
Gross Profit	50.27M	64.38M	16.80M	-12.05M	-138.35M	71.86M
EBITDA	-25.84M	-38.45M	-51.65M	-76.08M	-232.83M	-287.82M
Net Income	29.34M	-56.42M	-55.19M	872.13M	-199.43M	-278.02M
Balance Sheet
Total Assets	415.46M	354.16M	382.00M	607.40M	374.82M	469.06M
Cash, Cash Equivalents and Short-Term Investments	329.68M	88.35M	102.43M	327.48M	173.47M	292.94M
Total Debt	44.59M	49.82M	49.16M	52.16M	669.52M	676.26M
Total Liabilities	182.78M	178.62M	169.00M	165.60M	713.39M	772.81M
Stockholders Equity	232.68M	175.54M	213.00M	441.80M	-338.57M	-303.75M
Cash Flow
Free Cash Flow	243.48M	-11.87M	-29.48M	-187.56M	-211.26M	-257.02M
Operating Cash Flow	243.70M	-11.54M	-27.00M	-186.99M	-207.86M	-250.40M
Investing Cash Flow	-90.19M	12.28M	-32.70M	1.15B	124.49M	10.72M
Financing Cash Flow	-2.12M	-2.50M	-198.93M	-758.81M	91.86M	263.08M

Theravance Biopharma Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 19.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 19.03 is below the 20-day moving average (MA) of 19.53, above the 50-day MA of 18.87, and above the 200-day MA of 13.79, indicating a neutral trend. The MACD of 0.40 indicates Positive momentum. The RSI at 46.58 is Neutral, neither overbought nor oversold. The STOCH value of 20.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TBPH.

Theravance Biopharma Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TBPH	67 Neutral	$964.30M	34.10	14.03%	―	27.12%	―
DAWN	65 Neutral	$1.25B	-7.51	-30.16%	―	31.11%	-46.75%
AVXL	62 Neutral	$435.13M	-9.03	-43.11%	―	―	-5.71%
TERN	52 Neutral	$3.64B	-33.14	-29.12%	―	―	12.45%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MRVI	49 Neutral	$874.52M	-4.06	-41.06%	―	-30.56%	48.79%
NBTX	48 Neutral	$1.05B	―	―	―	―	―

Theravance Biopharma Corporate Events

Theravance Biopharma highlights cash-generation, YUPELRI growth, ampreloxetine

Theravance Biopharma disclosed that its management will hold one-on-one meetings with analysts and investors in San Francisco from January 12–15, 2026, using a corporate presentation that underscores its transition to a cash-generating biotech with a solid balance sheet and near-term clinical catalysts. The materials highlight that the company reached breakeven in the third quarter of 2025 and expects similar performance in the fourth quarter, supported by strong U.S. profit share from YUPELRI, intellectual property protection on that product into 2039, and about $175 million in anticipated near-term sales-based milestones, while positioning ampreloxetine—now through a completed Phase 3 CYPRESS randomized withdrawal study with topline data expected in the first quarter of 2026—as a potential first-in-class, once-daily treatment for an estimated 40,000 underserved U.S. patients with symptomatic neurogenic orthostatic hypotension due to multiple system atrophy. These developments, combined with an experienced leadership team and a stated commitment to returning excess capital to shareholders, suggest a strengthening operational and financial footing that could enhance Theravance Biopharma’s competitive standing in specialty neurology and respiratory markets.

The most recent analyst rating on (TBPH) stock is a Buy with a $20.50 price target. To see the full list of analyst forecasts on Theravance Biopharma stock, see the TBPH Stock Forecast page.

Theravance Biopharma Hosts Key Opinion Leader Event

On December 8, 2025, Theravance Biopharma held a virtual key opinion leader event for investors, focusing on its investigational product Ampreloxetine, which is being studied for treating symptomatic neurogenic orthostatic hypotension in patients with multiple system atrophy. The company also announced its 2026 Annual General Meeting of Shareholders scheduled for June 12, 2026, in Dublin, Ireland. The event highlighted the company’s strong financial position, with a cash balance of $332.7 million as of September 30, 2025, and its strategic focus on advancing in-house developed assets through approval and commercialization. The upcoming Phase 3 data for Ampreloxetine is expected to be a significant catalyst for the company, aiming to address an underserved patient population in the U.S.

The most recent analyst rating on (TBPH) stock is a Buy with a $27.00 price target. To see the full list of analyst forecasts on Theravance Biopharma stock, see the TBPH Stock Forecast page.