Brean Capital Maintains Buy On Tetraphase Following Positive Data From Phase 3 Trial Of Eravacycline
In a research report issued today, Brean Capital analyst Jonathan Aschoff maintained a Buy rating on Tetraphase Pharmaceuticals (NASDAQ:TTPH) with a $23.00 price target, following positive top-line results from the company’s lead-in portion of IGNITE 2 for the treatment of complicated urinary tract infections.
Aschoff observed, “Tetraphase announced positive top-line results from the lead-in portion of IGNITE 2, where 143 cUTI patients received IV-to-oral 200mg eravacycline, IV-to-oral 250mg eravacycline, or levofloxacin. Both dosing regimens of eravacycline demonstrated clear non-inferiority to levofloxacin. About 71%, 64%, and 52% of the micro-ITT patients on IV-to-oral 200mg eravacycline, IV-to-oral 250mg eravacycline, and levofloxacin respectively achieved both clinical cure and microbiological response post-treatment, which is the FDA preferred primary endpoint. Moreover, 75%, 64%, and 57% of the micro-MITT and microbiologically evaluable patients on IV-to-oral 200mg eravacycline, IV-to-oral 250mg eravacycline, and 750mg levofloxacin respectively achieved microbiological response post-treatment, which is the EMA preferred primary endpoint.”
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 23.5% and a 66.7% success rate. Aschoff has an average return when recommending TTPH, and is ranked #91 out of 3253 analysts.