Theravance Biopharma, Inc. (NASDAQ:) recently reported that Rhonda Farnum, the company’s Senior Vice President of Communications and Medical (TASE:) Affairs, sold 4,000 ordinary shares. The transaction, executed on November 11, 2024, was conducted at a price of $9 per share, amounting to a total value of $36,000.
Following this sale, Farnum retains ownership of 322,743 shares in the company. The transaction was carried out under a pre-established 10b5-1 trading plan, dated March 14, 2024.
In other recent news, Theravance Biopharma has reported strong third-quarter results, exceeding expectations in terms of total revenue and operating income. The biopharmaceutical company’s total revenue for the quarter was 12% higher than consensus estimates, with operating income 13% above, despite earnings per share being 5% lower due to a non-cash impairment charge. Theravance Biopharma’s Yupelri sales outperformed, coming in 12% above consensus, driven by a 14% increase in volume, offset by a 7% negative impact from pricing.
The company has addressed the negative channel mix shift by establishing a Yupelri-dedicated hub, the effectiveness of which is expected to be reported in future updates. Theravance Biopharma also announced organizational changes, with Susannah Grey, formerly the CFO of Royalty Pharma, appointed as the new Chair of the Board.
Furthermore, the company’s collaboration revenue rose to $16.9 million, marking an 8% year-over-year increase. Theravance Biopharma is also progressing in its clinical studies, notably the CYPRESS study for Ampreloxetine, expected to be completed by mid-2025. These recent developments contribute to the company’s ongoing growth and strategic progress. Leerink Partners maintained its Market Perform rating on shares of Theravance Biopharma, indicating a neutral stance on the company’s shares.
InvestingPro Insights
Theravance Biopharma’s recent insider sale by SVP Rhonda Farnum comes amid a period of notable stock performance for the company. According to InvestingPro data, TBPH has shown strong returns over the last week (10.63%), month (17.62%), and three months (18.34%), indicating positive momentum in the stock’s price.
Despite these gains, InvestingPro Tips suggest that the stock may be in overbought territory based on its Relative Strength Index (RSI). This could provide context for why an insider might choose to sell shares at this time.
It’s worth noting that while the company has seen revenue growth of 20.97% over the last twelve months, it is not currently profitable. An InvestingPro Tip indicates that analysts do not anticipate the company will be profitable this year, which may be a factor for investors to consider.
On the financial health front, Theravance Biopharma holds more cash than debt on its balance sheet, and its liquid assets exceed short-term obligations. This strong financial position could provide the company with flexibility as it works towards profitability.
For investors seeking a more comprehensive analysis, InvestingPro offers 11 additional tips for Theravance Biopharma, providing a deeper understanding of the company’s financial situation and market position.
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