Rhonda Farnum, senior vice president of communications and Medical (TASE:) Jobs at Theravance Biopharma Inc . (NASDAQ: ), recently sold some of its shares in the company. The stock has shown strong momentum with a 14.57% gain over the past week and is trading near a 52-week high of $10.44. According to a recent filing with the SEC, Farnum sold 4,000 shares of common stock at $9.00 each, for a total of $36,000. After this transaction, she retains ownership of 309,565 shares of the company. This sale was made as part of a predetermined 10b5-1 trading plan. While this insider selling occurred, InvestingPro The data shows that the company maintains strong financial health with a current ratio of 4.97 and analysts expect positive earnings of $0.12 per share for this fiscal year. For a deeper insight into insider trading patterns and 8 additional key expert tips, visit InvestingPro.
In other recent news, Theravance Biopharma reported a positive third quarter for 2024, with a 12% increase in total revenue that beat expectations, and a 13% increase in operating income. However, earnings per share fell due to non-cash impairment. Leerink Partners maintained a market perform rating on the company’s stock, indicating a neutral stance. This comes amid significant growth in sales of the company’s respiratory disease drug Yupelri and an 8% year-over-year increase in collaboration revenue.
Theravance Biopharma is also moving forward with its clinical studies, notably the CYPRESS study for ampreloxetine, which is expected to be completed by mid-2025. In other developments, the company has separated the roles of CEO and board chair, with Susannah Gray named president, and established a committee to review strategic alternatives for key assets. In addition, Theravance Biopharma expressed its intention to return excess capital to shareholders. These are recent developments that contribute to the continued growth and strategic progress of the company.
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