In a report issued on June 4, Madhu Kumar from B.Riley FBR reiterated a Buy rating on Tetraphase (NASDAQ: TTPH), with a price target of $6. The company’s shares closed yesterday at $3.73.
Kumar said:
“This morning, Tetraphase Pharmaceuticals (TTPH) announced that partner Everest Medicines has submitted an investigational new drug (IND) application for antibiotic eravacycline in complicated intra-abdominal infection (cIAI) with the Administration (CFDA). We consider this a positive event, as it supports the market expansion of eravacycline into cIAI in China, a highly prevalent condition with substantial unmet medical need. 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 38.3% and a 60.0% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Clementia Pharmaceuticals Inc, and Deciphera Pharmaceuticals Inc.
Tetraphase has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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The company has a one-year high of $8.75 and a one-year low of $2.05. Currently, Tetraphase has an average volume of 868.6K.
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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.
