In a report released today, Madhu Kumar from B.Riley FBR reiterated a Buy rating on Tetraphase (TTPH), with a price target of $7. The company’s shares opened today at $2.25, close to its 52-week low of $2.01.
Kumar commented:
“Yesterday after market close, 11/8/18, Tetraphase Pharmaceuticals (TTPH) announced 3Q18 earnings and provided a corporate update. We particularly highlight TTPH’s loan agreement with to support lead asset, antibiotic Xerava (previously known as eravacycline), launch as a key positive event for TTPH shares, as it provides the firm the cash runway necessary for the early phase of the Xerava launch. We thus reiterate our TTPH Buy rating and $7 price target.”
According to TipRanks.com, Kumar is a 4-star analyst with an average return of 12.7% and a 41.2% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Clementia Pharmaceuticals Inc.
Currently, the analyst consensus on Tetraphase is a Strong Buy with an average price target of $6.75.
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Based on Tetraphase’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.54 million. In comparison, last year the company had a GAAP net loss of $30.01 million.
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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.
