Theravance shares rise 11.34% intraday after H.C. Wainwright upgraded target price to $20 and Q3 results exceeded expectations with record YUPELRI sales.

Theravance surged 11.34% intraday, with H.C. Wainwright upgrading its price target to $20 and maintaining a buy rating. The company reported Q3 revenue of $19.99 million, exceeding expectations by $100,000, and adjusted earnings per share above forecasts, while YUPELRI’s net sales reached a record $71.4 million, up 15% year-over-year.