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TBPH

Theravance Biopharma

$22.18

-0.65 (-2.85%)

, GSK

GlaxoSmithKline

$39.85

-0.6 (-1.48%)

16:13
04/19/18
04/19
16:13
04/19/18
16:13

Theravance Biopharma reports publication of study of Treleggy Ellipta in COPD

Theravance Biopharma (TBPH) highlighted the publication in the New England Journal of Medicine of the landmark IMPACT study of Trelegy Ellipta in patients with chronic obstructive pulmonary disease. Trelegy Ellipta is the triple combination therapy of fluticasone furoate, umeclidinium, and vilanterol in a single Ellipta inhaler. Trelegy Ellipta is a product in which Theravance Biopharma has an economic interest in future payments that may be made by GlaxoSmithKline (GSK) or one of its affiliates pursuant to its agreements with Innovivam formerly Theravance, Inc. Theravance Biopharma is entitled to receive an 85% economic interest in the royalties paid by GSK on worldwide net sales. Those royalties are upward-tiering from 6.5% to 10%, resulting in cash flows to Theravance Biopharma of approximately 5.5% to 8.5% of worldwide net sales of Trelegy Ellipta. Results from additional secondary and other endpoints published in the NEJM include: a statistically significant 34% reduction in COPD hospitalizations for Trelegy compared to Anoro and a reduction of 13% compared to Relvar/Breo which was not statistically significant ; a 42.1% reduction in the risk of on-treatment all-cause mortality was observed for Trelegy compared to Anoro. The safety profile of single inhaler triple therapy was consistent with the safety profile of the individual components. Trelegy Ellipta is approved in Europe as a maintenance treatment in adult patients with moderate to severe COPD who are not adequately treated by a combination of an ICS and a LABA. The product is also approved for use in the US for the long-term, once-daily, maintenance treatment of COPD patients who are receiving Breo and require additional bronchodilation or who are receiving Breo and Incruse. Regulatory applications for Trelegy Ellipta have been submitted and are undergoing assessments in a number of other countries.

TBPH

Theravance Biopharma

$22.18

-0.65 (-2.85%)

GSK

GlaxoSmithKline

$39.85

-0.6 (-1.48%)

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TBPH Theravance Biopharma
$22.18

-0.65 (-2.85%)

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.
03/29/18
PIPR
03/29/18
INITIATION
Target $45
PIPR
Overweight
Theravance Biopharma assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Tyler Van Buren assumed coverage of Theravance Biopharma with an Overweight rating and $45 price target. The company's respiratory products Trelegy and revefenacin "provide solid valuation support with the potential for significant upside" from its proprietary 1473/JAK and 9855/nOH development candidate, the analyst contends. He has confidence in the Trelegy launch and revefenacin approval and recommends investors buy the shares.
GSK GlaxoSmithKline
$39.85

-0.6 (-1.48%)

03/22/18
MSCO
03/22/18
UPGRADE
MSCO
Equal Weight
GlaxoSmithKline upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Vincent Meunier upgraded GlaxoSmithKline to Equal Weight and raised his price target for the shares to GBP 14 from GBP 13. The company's capital allocation strategy and operational repositioning show "clear signs of improvement," Meunier tells investors in a research note. Further, the analyst believes comments by the CEO suggest a large consumer deal is less likely than several months ago, which he believes reduces the risk of a dividend cut.
03/22/18
03/22/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. American Axle (AXL) and BorgWarner (BWA) were double-upgraded to Overweight from Underweight at Morgan Stanley. 2. GlaxoSmithKline (GSK) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Vincent Meunier saying the company's capital allocation strategy and operational repositioning show "clear signs of improvement." 3. General Mills (GIS) upgraded to Hold from Sell at Societe Generale with analyst Warren Ackerman citing valuation for the upgrade following yesterday's post-earnings selloff. 4. Pandora (P) upgraded to Strong Buy from Market Perform at Raymond James with analyst Justin Patterson saying AdsWizz will expand TAM by 2x to $28B, accelerate tech initiatives, materially expand reach, and could be worth approximately $4 per share. 5. Southwest (LUV) upgraded to Buy on valuation at Buckingham with analyst Daniel McKenzie saying shares are oversold and maintained a $70 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/04/18
EXAN
04/04/18
UPGRADE
EXAN
Outperform
GlaxoSmithKline upgraded to Outperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Kerry Holford upgraded GlaxoSmithKline to Outperform with an increased price target of GBP 16.30.
04/04/18
04/04/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Transocean (RIG) upgraded to Buy from Hold at HSBC. 2. GlaxoSmithKline (GSK) upgraded to Outperform from Neutral at Exane BNP Paribas. 3. BHP Billiton (BHP) upgraded to Sector Perform from Underperform at RBC Capital and to Buy from Neutral at Citi. 4. Boston Beer (SAM) upgraded to Market Perform from Underperform at Cowen with analyst Vivien Azer citing strong Nielsen data in the non-beer category. 5. EnLink Midstream Partners (ENLK) upgraded to Overweight from Neutral at JPMorgan with analyst Jeremy Tonet saying he reduced his distribution growth expectations given the elevated cost of equity, but views the current 11.5% yield as sustainable. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

MS

Morgan Stanley

$49.09

1.22 (2.55%)

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Morgan Stanley call volume above normal and directionally bullish »

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FB

Facebook

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IPSEY

Ipsen

$0.00

(0.00%)

14:40
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SIEN

Sientra

$23.85

-0.3 (-1.24%)

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General news
Fed Policy Outlook: by this time next week »

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DRE

Duke Realty

$28.36

-0.35 (-1.22%)

14:29
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HXGBY

Hexagon AB

$0.00

(0.00%)

14:25
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Conference/Events
Hexagon AB management to meet with RBC Capital »

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WMB

Williams

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0.05 (0.18%)

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NEPT

Neptune Technologies

$4.93

0.675 (15.86%)

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Options
Neptune Technologies call volume above normal and directionally bullish »

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BABA

Alibaba

$162.44

5.8 (3.70%)

14:18
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Recommendations
Alibaba analyst commentary  »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

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Technical Analysis
NYSE market internals summary »

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SPOT

Spotify

$169.33

-6.1 (-3.48%)

14:16
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Periodicals
Spotify accused of ' fostering a negative work culture for women,' Verge says »

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BABA

Alibaba

$162.49

5.85 (3.73%)

14:13
09/19/18
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14:13
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Periodicals
Alibaba no longer plans to bring 1M jobs to U.S. in wake of trade war, CNBC says »

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SAFM

Sanderson Farms

$100.90

-2.04 (-1.98%)

14:09
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Sanderson Farms reports on impact to operations from Hurricane Florence »

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14:08
09/19/18
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14:08
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Conference/Events
RBC Capital internet analyst to hold a luncheon »

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Conference/Events
RBC Capital multi-industry analyst to hold group luncheon »

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Conference/Events
RBC Capital biotech analysts to hold a group breakfast »

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CZR

Caesars

$10.90

0.1 (0.93%)

14:00
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Options
Caesars option volume is 2X daily average and calls lead puts 10:1 »

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ELAN

Elanco

$0.00

(0.00%)

, LLY

Eli Lilly

$105.83

-1.06 (-0.99%)

13:51
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13:51
Initiation
Elanco, Eli Lilly initiated  »

Elanco initiated with a…

ELAN

Elanco

$0.00

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LLY

Eli Lilly

$105.83

-1.06 (-0.99%)

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LFUS

Littelfuse

$204.06

-9.68 (-4.53%)

13:41
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MRK

Merck

$70.16

-0.26 (-0.37%)

, BMY

Bristol-Myers

$60.93

-0.55 (-0.89%)

13:36
09/19/18
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13:36
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Periodicals
Merck cuts key cancer drug price for China launch, Caixin reports »

Merck (MRK) will cut the…

MRK

Merck

$70.16

-0.26 (-0.37%)

BMY

Bristol-Myers

$60.93

-0.55 (-0.89%)

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GLUU

Glu Mobile

$7.30

-0.285 (-3.76%)

13:35
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Options
Glu Mobile put volume heavy and directionally bearish »

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REV

Revlon

$23.75

0.5 (2.15%)

, TLRY

Tilray

$227.50

72.51 (46.78%)

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Periodicals
Revlon could be set for short squeeze similar to Tilray's, Mox Reports says »

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REV

Revlon

$23.75

0.5 (2.15%)

TLRY

Tilray

$227.50

72.51 (46.78%)

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TTWO

Take-Two

$129.93

-2.76 (-2.08%)

, SNE

Sony

$59.02

-0.8 (-1.34%)

13:32
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Take-Two's (TTWO)…

TTWO

Take-Two

$129.93

-2.76 (-2.08%)

SNE

Sony

$59.02

-0.8 (-1.34%)

MSFT

Microsoft

$111.22

-2.02 (-1.78%)

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