As previously reported, Evercore ISI analyst Liisa Bayko downgraded Theravance Biopharma to In Line from Outperform with a price target of $8, down from $14, after Yupelri failed in a Phase 4 study that was designed to broaden the addressable market. The firm has updated its model to temper its expectations for the expansion of Yupelri based on the PIFR 2 results and also adjust projections for ampreloxetine, the other active asset in Theravance’s pipeline, the analyst tells investors.
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