In a report released today, Alan Carr from Needham maintained a Buy rating on Iterum Therapeutics Plc (ITRM), with a price target of $20. The company’s shares opened today at $5.46, equals to its 52-week low of $5.46.
Carr wrote:
“Iterum announced 3Q18 financial results yesterday and we spoke with mgmt for a corporate update. All three Phase 3 trials of sulopenem are underway. the company initiated the remaining two planned Phase 3 trials: SURE 2 in complicated Urinary Tract Infection (cUTI) and SURE 3 in complicated Intra-Abdominal Infections (cUTI). 3 trial in uncomplicated UTI (uUTI) had already been initiated in Aug 2018. Mgmt reiterated guidance for announcement of top-line results from all three trials by YE19. Reiterate BUY. The need for oral antibiotics outside the hospital setting is underappreciated by investors.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 1.8% and a 39.2% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Albireo Pharma Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Iterum Therapeutics Plc with a $20 average price target.
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The company has a one-year high of $13 and a one-year low of $5.46. Currently, Iterum Therapeutics Plc has an average volume of 25.24K.
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Iterum Therapeutics Plc is a holding company, which engages in the development and commercialization of innovative treatments for drug resistant bacterial infections. It focuses on sulopenem program that offer a solution to the problem of antibiotic resistance, and the toxicity limitations of existing agents.
