UPDATE: Stifel Nicolaus Raises PT to $40 on Theravance on Improved Risk Profile
Stifel Nicolaus reiterated its Buy rating on Theravance (NASDAQ: THRX) and raised its price target from $28 to $40.
Stifel Nicolaus noted, "We believe recently-announced top-line P3 LAMA/LABA data implies a relatively clear regulatory path forward and our physician conversations suggest the utilization of these combined mechanisms of action should gain considerable traction/adoption in those moderate/severe COPD patients whom require prolonged/significant bronchodilation."
Therevance closed at $29.49 on Friday.
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