B.Riley FBR analyst Madhu Kumar reiterated a Buy rating on Tetraphase (NASDAQ: TTPH) today and set a price target of $6. The company’s shares opened today at $2.92, close to its 52-week low of $2.05.
Kumar observed:
“Yesterday (8/2), after market close, Tetraphase Pharmaceuticals (TTPH) announced 2Q18 earnings and provided a corporate update. We continue to believe lead asset, antibiotic Xerava (also known as eravacycline), has substantial potential utility in complicated intra-abdominal infection (cIAI), with an upcoming August 27, 2018, PDUFA data as a key potential positive catalyst for TTPH shares. We thus reiterate our TTPH Buy rating and $6 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 28.8% and a 50.8% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Deciphera Pharmaceuticals Inc.
Tetraphase has an analyst consensus of Moderate Buy, with a price target consensus of $6.
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The company has a one-year high of $7.98 and a one-year low of $2.05. Currently, Tetraphase has an average volume of 700.1K.
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Tetraphase Pharmaceuticals, Inc. engages in the development and production of novel antibiotics for serious and life-threatening bacterial infections. It is currently developing a product candidate, eravacycline, a fully synthetic fluorocycline, as an intravenous and oral antibiotic for use as a first-line empiric monotherapy for the treatment of resistant and multi-drug-resistant infections. The company was founded on July 7, 2006 and is headquartered in Watertown, MA.
