Market Overview

Morgan Stanley Expects Theravance to Continue to Underperform Following 4Q Earnings

Share:
Related THRX
Morning Market Losers
18 Biotech Stocks These Wall Street Analysts Are Tracking

In a report published Friday, Morgan Stanley analyst David Friedman reiterated an Underweight rating and $13.00 price target on Theravance (NASDAQ: THRX).

In the report, Morgan Stanley noted, “THRX is still planning for a split by 1Q14. While we await details on the ultimate capital structure and tax rate of the Royalty Co., which is remaining in California, we note that our model currently assumes minimal OpEx and no taxes ever being paid (based on NOL use).”

Theravance closed on Thursday at $36.13.

Latest Ratings for THRX

DateFirmActionFromTo
May 2015Cowen & CompanyDowngradesMarket Perform
Jul 2014Bank of AmericaDowngradesBuyNeutral
Jun 2014Stifel NicolausDowngradesBuyHold

View More Analyst Ratings for THRX
View the Latest Analyst Ratings

Posted-In: David Friedman Morgan StanleyAnalyst Color Reiteration Analyst Ratings

 

Related Articles (THRX)

Around the Web, We're Loving...

Get Benzinga's Newsletters