Good time to take another look at Theravance, says Cantor Fitzgerald

Cantor Fitzgerald analyst Louise Chen believes it is a good time to take another look at Theravance Biopharma given its “inexpensive valuation” and “important catalysts” this year. The company’s cash and equivalents totaled $517.1M at the end of 2018 and it appears well positioned to receive over $1B in milestones and payments, Chen tells investors in a research note. However, its market capitalization is only $1.3B, says the analyst. She thinks the peak sales potential of Theravance’s organ-selective JAKs, Ampreloxetine, Yupelri and Trelegy, are all underappreciated and keeps an Overweight rating on the shares with a $55 price target.

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