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TBPH

Theravance Biopharma

$24.44

1.07 (4.58%)

, JNJ

Johnson & Johnson

$131.83

1.44 (1.10%)

07:37
02/07/18
02/07
07:37
02/07/18
07:37

Theravance Biopharma and Janssen collaborating in development of TD-1473

Theravance Biopharma (TBPH) subsidiary Theravance Biopharma Ireland has entered into a global co-development and commercialization agreement with Janssen Biotech, one of the Janssen Pharmaceutical Companies of Johnson & Johnson (JNJ), for TD-1473 and related back-up compounds for inflammatory intestinal diseases, including ulcerative colitis and Crohn's disease. Under the terms of the agreement, Theravance Biopharma will receive an upfront payment of $100M and will be eligible to receive up to an additional $900M in potential payments, if Janssen elects to remain in the collaboration following the completion of certain Phase 2 activities. Theravance Biopharma and Janssen will develop and commercialize TD-1473 in inflammatory intestinal diseases, with the two companies sharing profits in the US and expenses related to a potential Phase 3 program - 67% to Janssen; 33% to Theravance Biopharma -. Theravance Biopharma would receive double-digit tiered royalties on ex-US sales. TD-1473 is a novel, potent, orally administered pan-Janus kinase inhibitor in clinical development, with the potential to treat a range of inflammatory intestinal diseases. In 2018, Theravance Biopharma plans to initiate a large, Phase 2b/3 adaptive design induction and maintenance study in ulcerative colitis with TD-1473. The company is also now planning to initiate a Phase 2 study in Crohn's disease in 2018. Following completion of the Phase 2 Crohn's study and the Phase 2b induction portion of the ulcerative colitis study, Janssen can elect to enter into an exclusive license arrangement by paying Theravance Biopharma a fee of $200M. After Phase 2, Janssen would lead subsequent development of TD-1473 in Crohn's disease. Theravance Biopharma would be eligible to receive up to an additional $700M in development and commercialization milestone payments.

TBPH

Theravance Biopharma

$24.44

1.07 (4.58%)

JNJ

Johnson & Johnson

$131.83

1.44 (1.10%)

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TBPH Theravance Biopharma
$24.44

1.07 (4.58%)

03/29/17
PIPR
03/29/17
NO CHANGE
Target $42
PIPR
Overweight
Mylan news a positive for Theravance, says Piper Jaffray
Piper Jaffray analyst Joshua Schimmer says Mylan's (MYL) complete response letter for its generic version of GlaxoSmithKline's Advair "buys time and will likely preserve some pricing power in the broader respiratory space." This will be important for GSK's commercialization of the closed triple following potential regulatory approval at year end, Schimmer tells investors in a research note. This is also positive for Theravance Biopharma (TBPH), which stands to receive a "meaningful" mid/high single digit royalty on the closed triple, the analyst contends. He reiterates an Overweight rating on Theravance with a $42 price target. The stock is up 49c to $36.47 in afternoon trading.
05/10/17
LEER
05/10/17
NO CHANGE
Target $47
LEER
Outperform
Theravance Biopharma price target raised to $47 from $34 at Leerink
Leerink analyst Geoffrey Porges raised his price target Theravance Biopharma to $47 from $34 after the company reported Q1 financial results and provided an update for investors about its development progress and upcoming milestones. The analyst reiterates an Outperform rating on the shares.
06/16/17
CANT
06/16/17
INITIATION
Target $55
CANT
Overweight
Theravance Biopharma initiated with an Overweight at Cantor
Cantor Fitzgerald analyst Louise Chen started Theravance Biopharma with an Overweight rating and $55 price target.
08/16/17
EVER
08/16/17
INITIATION
Target $45
EVER
Outperform
Theravance Biopharma initiated with an Outperform at Evercore ISI
Evercore ISI analyst Josh Schimmer initiated Theravance Biopharma with an Outperform and a $45 price target.
JNJ Johnson & Johnson
$131.83

1.44 (1.10%)

01/02/18
01/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Weinstein saying he sees greater upside potential in other large cap names with J&J shares trading at 17.9 times his 2018 earnings estimate. 2. PG&E (PCG) downgraded to Sell from Neutral at Guggenheim and to Neutral from Buy at Goldman Sachs. Goldman analyst Michael Lapides saying resolution of claims from the California wildfires, if inverse condemnation is applied, could take years and "cash flow/balance sheet impacts could prove significant still." 3. Allstate (ALL) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Meyer Shields saying the company's margin expansion story has played out. 4. Cabot Oil & Gas (COG) downgraded two notches to Underperform from Outperform at Raymond James with analyst John Freeman citing valuation after "considerable" 2017 share outperformance. 5. Windstream (WIN) downgraded to Underweight from Neutral at JPMorgan with analyst Philip Cusick saying he sees fundamental business challenges continuing in both the near and long term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/04/18
RBCM
01/04/18
NO CHANGE
Target $54
RBCM
Outperform
Pacira price target raised to $54 from $50 at RBC Capital
RBC Capital analyst Randall Stanicky raised his price target on Pacira (PCRX) to $54 and kept his Outperform rating. Stanicky says his focus is on the company's expected pre-announcement for Q4 this week and his upcoming discussion with CEO Dave Stack on Monday regarding changes from CMS around unbundling of payments that could represent a game changing opportunity for the company's EXPAREL. The analyst notes that traction is building around Pacira's relationship with Johnson & Johnson (JNJ) on the ortho selling side, which marks about half of its revenue.
01/18/18
MSCO
01/18/18
NO CHANGE
Target $157
MSCO
Equal Weight
Zytiga ruling a headwind, but doesn't change J&J thesis, says Morgan Stanley
Morgan Stanley analyst David Lewis noted that Johnson & Johnson suffered an adverse Zytiga IPR ruling, which he calls an incremental headwind. However, he added that a possible earlier generic Zytiga entry is irrelevant to his net present value for J&J shares and doesn't change his view that its Pharma growth accelerates in 2018. Lewis keeps an Equal Weight rating and $157 price target on J&J shares.
02/06/18
WELS
02/06/18
NO CHANGE
Target $160
WELS
Outperform
Johnson & Johnson talc litigation concerns appear overblown, says Wells Fargo
Wells Fargo analyst Lawrence Biegelsen says Johnson & Johnson shares were down partly due to concerns about ongoing litigation over allegations that its talcum power products are unsafe for use because they contain asbestos which can cause mesothelioma. Based on prior high-profile product liability cases in the drug and device sectors, the analyst believes any potential settlement would be manageable for Johnson & Johnson. He reiterates an Outperform rating and $160 price target on the shares.

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-0.42 (-0.15%)

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DPS

Dr Pepper Snapple

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AT&T

$32.20

-0.97 (-2.92%)

, NFLX

Netflix

$390.27

-1.56 (-0.40%)

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AT&T

$32.20

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Netflix

$390.27

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TSLA

Tesla

$370.78

12.76 (3.56%)

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ZTCOY

ZTE Corp.

$0.00

(0.00%)

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Periodicals
Senate passes military funding bill that reimposes sanctions on ZTE, CNBC says 

Reference Link

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PLM

PolyMet Mining

$1.02

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Viveve

$3.82

0.09 (2.41%)

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Acadia

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Impinj

$22.25

-0.13 (-0.58%)

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American Airlines

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FLNT

Fluent

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Versartis

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Qorvo

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WFC

Wells Fargo

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0.09 (0.16%)

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RYTM

Rhythm Pharmaceuticals

$28.81

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JWN

Nordstrom

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GD

General Dynamics

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ARQL

ArQule

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