Update shared on05 Sep 2025
Analysts cite improved near- and medium-term outlooks for Theravance Biopharma driven by milestone payments and royalty streams from Yupelri’s approval in China, but these updates have not altered the consensus price target, which remains at $18.40.
Analyst Commentary
- Yupelri's approval in China has activated a $7.5M milestone payment to Theravance.
- Theravance stands to receive up to $37.5M in additional sales-based milestone payments related to Yupelri.
- The company is positioned to earn 14%-20% tiered royalties on net sales of Yupelri in China.
- Expectations for escalating revenue contributions from the China market have improved near- and medium-term outlook.
- Bullish analysts are incrementally raising targets on explicit visibility into international milestone and royalty streams.
What's in the News
- Theravance completed enrollment in the open-label portion of its pivotal Phase 3 CYPRESS study for ampreloxetine in symptomatic neurogenic orthostatic hypotension (nOH) due to multiple system atrophy (MSA), with topline data expected in the first quarter of 2026 and plans for expedited NDA submission and request for FDA priority review if results are supportive.
- The company holds Orphan Drug Designation for ampreloxetine in nOH-MSA and continues to advance its FDA-approved YUPELRI (revefenacin) for COPD maintenance.
- YUPELRI (revefenacin) received regulatory approval in China via Viatris, triggering a $7.5 million milestone payment to Theravance, with potential for up to $37.5 million in additional milestones and tiered royalties of 14%-20% on net sales.
- Recent cash position is supported by $131 million in cash, $225 million from the sale of TRELEGY royalties, 35% of U.S. YUPELRI profits, and up to $150 million in near-term TRELEGY milestone payments.
- Theravance was recently added to several Russell growth indices, including the Russell 3000 Growth, Microcap Growth, Small Cap Comp Growth, 3000E Growth, 2500 Growth, and 2000 Growth indices, while being dropped from the Russell 2000 Defensive and Value-Defensive indices.
Valuation Changes
Summary of Valuation Changes for Theravance Biopharma
- The Consensus Analyst Price Target remained effectively unchanged, at $18.40.
- The Future P/E for Theravance Biopharma remained effectively unchanged, at 40.45x.
- The Consensus Revenue Growth forecasts for Theravance Biopharma remained effectively unchanged, at 18.6% per annum.
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