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Stock Market & Financial Investment News

News Breaks
July 24, 2014
07:32 EDTTHRXTheravance downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Theravance (THRX) to Neutral from Buy. The firm downgraded shares following GlaxoSmithKline (GSK) Q2 report that indicated continued pressure in the COPD market and higher discounting. The firm has increased caution on the Anoro launch and lowered its peak 2020 estimate to $2.5B from $3B. Price target lowered to $31 from $34.
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