It has been about a month since the last earnings report for Theravance Biopharma (TBPH). Shares have added about 3.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Theravance Bio due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Theravance reported third-quarter 2024 adjusted net loss of 6 cents per share, narrower than the Zacks Consensus Estimate of a loss of 10 cents. In the year-ago quarter, the company had incurred an adjusted loss of 1 cent per share.
The reported loss excludes share-based compensation expense, non-cash impairment of long-lived assets, income tax expense and non-cash interest expense. Including these items, the company reported a loss of 26 cents per share in the third quarter compared with a loss of 17 cents in the year-ago quarter.
Total revenues came in at $16.9 million, beating the Zacks Consensus Estimate of $16 million. Revenues rose 8% year over year owing to increased collaboration revenues from Viatris.
The top line is fully comprised of Viatris’ collaboration revenues in relation to Yupelri sales.
Research and development expenses (excluding share-based compensation) totaled $8.2 million, up almost 30% from the year-ago quarter’s level.
Selling, general and administrative expenses (excluding share-based compensation) increased around 10% year over year to $13 million.
As of Sept. 30, 2024, Theravance had cash, cash equivalents and marketable securities worth $91.4 million compared with $96.1 million as of June 30, 2024.
Theravance continues to expect adjusted R&D expenses (excluding share-based compensation) in the $30-$36 million range. Adjusted SG&A expenses (excluding share-based compensation) are projected between $45 million and $55 million.
The company continues to expect share-based compensation expenses of $18-$22 million in 2024.
Theravance expects the levels of both adjusted losses and cash burn in the second half of 2024 to be the same as in the first half of 2024.
In the past month, investors have witnessed an upward trend in estimates review.
The consensus estimate has shifted -43.43% due to these changes.
At this time, Theravance Bio has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with an F. Charting a somewhat similar path, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Estimates have been trending upward for the stock, and the magnitude of this revision has been net zero. Notably, Theravance Bio has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Theravance Bio belongs to the Zacks Medical - Drugs industry. Another stock from the same industry, Ionis Pharmaceuticals (IONS), has gained 0.6% over the past month. More than a month has passed since the company reported results for the quarter ended September 2024.
Ionis Pharmaceuticals reported revenues of $134 million in the last reported quarter, representing a year-over-year change of -6.9%. EPS of -$0.95 for the same period compares with -$1.03 a year ago.
For the current quarter, Ionis Pharmaceuticals is expected to post a loss of $1.03 per share, indicating a change of -1616.7% from the year-ago quarter. The Zacks Consensus Estimate has changed +3% over the last 30 days.
Ionis Pharmaceuticals has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of F.
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