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Theravance Biopharma
(NASDAQ:TBPH)
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Rating:64Neutral
Price Target:
$18.00
▲(5.70% Upside)
Action:Downgraded
Date:09/23/26
The score is supported primarily by improved financial performance (positive net income and free cash flow with low leverage). It is tempered by significant corporate-event uncertainty from the merger/delisting and the non-tradable, speculative CVR tied to an uncertain regulatory path, while technicals and valuation are only neutral-to-moderately supportive.
Positive Factors
Current profitability turnaround
The return to positive TTM net income and a strong gross margin marks a material improvement from prior losses. This creates a more favorable base for funding development and operations, although the mixed operating result means the durability of reported earnings still requires monitoring.
Negative Factors
Ampreloxetine regulatory uncertainty
The failed primary endpoint and FDA assessment materially weaken the probability and timing of ampreloxetine commercialization. A further pivotal trial may offer a pathway, but additional development creates execution, funding, and regulatory uncertainty around a potentially important source of future value.
Read all positive and negative factors
Positive Factors
Negative Factors
Current profitability turnaround
The return to positive TTM net income and a strong gross margin marks a material improvement from prior losses. This creates a more favorable base for funding development and operations, although the mixed operating result means the durability of reported earnings still requires monitoring.
Read all positive factors
Theravance Biopharma (TBPH) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$884.18M
Dividend YieldN/A
Average Volume (3M)897.33K
Price to Earnings (P/E)16.0
Beta (1Y)1.02
Revenue Growth35.11%
EPS Growth331.61%
CountryUS
Employees90
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.06
Shares Outstanding51,918,755
10 Day Avg. Volume1,975,830
30 Day Avg. Volume897,327
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)3.17
Price to Sales (P/S)8.76
P/FCF Ratio3.95
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$17.00Price Target Upside-0.18% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)3.13
Revenue Forecast (FY)$82.53M
Theravance Biopharma Business Overview & Revenue Model
Company Description
Theravance Biopharma, Inc., a biopharmaceutical company, develops and commercializes medicines in the United States. It offers YUPELRI, an once-daily, nebulized long-acting muscarinic antagonist for the treatment of chronic obstructive pulmonary d...
How the Company Makes Money
Theravance Biopharma primarily makes money through collaboration-based economics rather than a large, fully integrated direct-sales model. Key revenue streams have included: (1) royalties and/or profit-sharing related to partnered commercial produ...
Theravance Biopharma Earnings Call Summary
Earnings Call Date:Nov 10, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The earnings call reflects a strong financial position with record sales and profitability for YUPELRI, significant progress in ampreloxetine's clinical trials, and upcoming milestone achievements for Trelegy. Despite minor operational challenges, the overall outlook remains positive with a focus on future growth and strategic objectives.Positive Updates
YUPELRI Sales Growth
Third quarter net sales for YUPELRI increased 15% year over year to $71.4 million, driven by a 6% increase in demand and favorable net pricing.
Negative Updates
Operational Challenges
Although not explicitly detailed in the transcript, the company hints at challenges associated with conducting trials in rare diseases, impacting the execution timeline.
Read all updates
Q3-2025 Updates
Positive
Negative
YUPELRI Sales Growth
Third quarter net sales for YUPELRI increased 15% year over year to $71.4 million, driven by a 6% increase in demand and favorable net pricing.
Read all positive updates
Company Guidance
During the Theravance Biopharma Third Quarter 2025 Conference Call, the company reported robust financial performance and progress in its strategic objectives. The third quarter saw YUPELRI achieving record net sales of $71.4 million, a 15% year-over-year increase, driven by a 6% increase in demand and improved net pricing. This positions YUPELRI to trigger a $25 million milestone from Viatris with just $54 million in sales needed in Q4. Theravance also highlighted the advancement of the pivotal Phase III Cyprus trial of ampreloxetine, targeting a data readout in early 2026, which could significantly impact the company’s valuation. The company ended the quarter with $333 million in cash and no debt, anticipating $75 million in near-term milestones. Furthermore, the strong performance of Trelegy, with $1 billion in sales for the quarter, is expected to yield a $50 million milestone in Q4 and $100 million in 2026. The company maintains a focus on financial discipline, achieving non-GAAP breakeven, and aims to leverage its robust balance sheet and strategic initiatives for long-term value creation.Theravance Biopharma Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
80
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 104.31M | 107.46M | 64.38M | 57.42M | 51.35M | 55.31M |
| Gross Profit | 93.25M | 101.95M | 26.74M | 16.80M | -12.05M | -138.35M |
| EBITDA | 68.45M | 137.22M | -38.45M | -51.65M | -76.08M | -232.83M |
| Net Income | 53.81M | 105.89M | -56.42M | -55.19M | 872.13M | -199.43M |
Balance Sheet | ||||||
| Total Assets | 469.77M | 485.57M | 354.16M | 382.00M | 607.40M | 374.82M |
| Cash, Cash Equivalents and Short-Term Investments | 387.66M | 315.36M | 88.35M | 102.43M | 327.48M | 173.47M |
| Total Debt | 38.57M | 75.50M | 49.82M | 49.16M | 52.16M | 669.52M |
| Total Liabilities | 180.06M | 188.85M | 178.62M | 169.00M | 165.60M | 713.39M |
| Stockholders Equity | 289.70M | 296.72M | 175.54M | 213.00M | 441.80M | -338.57M |
Cash Flow | ||||||
| Free Cash Flow | 51.82M | 238.50M | -11.87M | -29.48M | -187.56M | -211.26M |
| Operating Cash Flow | 51.83M | 238.54M | -11.54M | -27.00M | -186.99M | -207.86M |
| Investing Cash Flow | -107.47M | -105.28M | 12.28M | -32.70M | 1.15B | 124.49M |
| Financing Cash Flow | -2.86M | -3.25M | -2.50M | -198.93M | -758.81M | 91.86M |
Theravance Biopharma Technical Analysis
Positive
17.03
Price Trends
16.96
Positive
16.80
Positive
17.18
Negative
Market Momentum
0.02
Positive
53.24
Neutral
45.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TBPH, the sentiment is Positive. The current price of 17.03 is below the 20-day moving average (MA) of 17.04, above the 50-day MA of 16.96, and below the 200-day MA of 17.18, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 53.24 is Neutral, neither overbought nor oversold. The STOCH value of 45.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TBPH.
Theravance Biopharma Risk Analysis
Theravance Biopharma disclosed 50 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $884.18M | 16.01 | 19.40% | ― | 35.11% | 331.61% | |
62 Neutral | $1.99B | -14.30 | -35.42% | ― | -3.28% | 61.09% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $218.76M | -7.73 | -21.11% | ― | ― | 73.28% | |
42 Neutral | $1.58B | -25.09 | 89.71% | ― | ― | ― |
* Healthcare Sector Average
TBPH
Theravance Biopharma
17.03
2.61
18.10%
AVXL
Anavex Life Sciences
2.02
-6.99
-77.58%
MRVI
Maravai Lifesciences Holdings
7.66
4.52
143.95%
NBTX
Nanobiotix
31.16
12.42
66.28%
Theravance Biopharma Corporate Events
Executive/Board ChangesDelistings and Listing ChangesM&A TransactionsRegulatory Filings and Compliance
Theravance Biopharma Completes Merger and Plans Nasdaq Delisting
Negative
Sep 23, 2026
Theravance Biopharma completed a merger under a June 28, 2026 agreement in which Zymeworks Merger Sub I was combined into the company, and each ordinary share was canceled and converted into $17 in cash plus a contingent value right tied to future...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Theravance Shareholders Approve Merger with Zymeworks Inc.
Positive
Sep 18, 2026
Theravance Biopharma held an extraordinary general meeting on September 18, 2026, at which shareholders voted on proposals tied to a planned merger with Zymeworks Inc., under a June 28, 2026 Merger Agreement that will make Theravance a wholly owne...
Business Operations and StrategyLegal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Theravance Biopharma issues disclosures amid Zymeworks merger
Neutral
Sep 10, 2026
On June 28, 2026, Theravance Biopharma agreed to merge with Zymeworks Inc., with Theravance to become a wholly owned subsidiary, and a shareholder meeting to vote on the deal is scheduled for September 18, 2026. In response to three shareholder la...
Business Operations and StrategyRegulatory Filings and Compliance
Theravance Biopharma details Phase 3 ampreloxetine data
Negative
Aug 25, 2026
On August 25, 2026, Theravance Biopharma released detailed data from its Phase 3 CYPRESS Study of ampreloxetine in patients with symptomatic neurogenic orthostatic hypotension linked to multiple system atrophy. The study’s primary endpoint, ...
Business Operations and StrategyM&A Transactions
Theravance Biopharma to be Acquired by Zymeworks
Positive
Jun 29, 2026
Theravance Biopharma, a respiratory-focused biopharmaceutical company best known for its FDA-approved COPD drug YUPELRI and its past TRELEGY royalty stream, has spent recent years reshaping its portfolio and balance sheet. Since 2024 the boardR...
Business Operations and StrategyExecutive/Board Changes
Theravance Biopharma announces leadership changes amid restructuring
Neutral
Jun 23, 2026
Theravance Biopharma Ireland Limited, a subsidiary of Theravance Biopharma, Inc., has agreed to the planned departure of Senior Vice President of Development and Head of the Ireland Office, Áine Miller, as part of a restructuring announced in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.