Brean Capital analyst Jonathan Aschoff reiterated a Buy rating on Tetraphase Pharmaceuticals (NASDAQ:TTPH) with a $23 price target, which (surprisingly) represents a slight downside from current levels. The report follows the release of the recent quarter results.
Aschoff noted, “Tetraphase ended 3Q14 with $56 million in cash and equivalents, but added $81 million in net proceeds from a public offering of common shares in October 2014. Tetraphase’s current cash on hand should be sufficient to support its operations, including pre-commercialization activities for eravacycline, through at least 3Q16.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jonathan Aschoff has a total average return of 12.6% and a 63.5% success rate. Aschoff has a 52.2% average return when recommending TTPH, and is ranked #152 out of 3367 analysts.