Needham Keeps Their Hold Rating on Tetraphase (TTPH)

In a report issued on March 15, Alan Carr from Needham maintained a Hold rating on Tetraphase (TTPHResearch Report). The company’s shares closed on Friday at $1.41, close to its 52-week low of $1.01.

Carr commented:

“Tetraphase reported $0.2M in U.S. Xerava sales, below our $2.0M and consensus $2.4M ests. As a reminder, the antibiotic was approved by the FDA in Aug 2018 and launched in the U.S. in mid-Oct 2018. Company is delaying planned 1H19 launch in Europe. We removed ex-U.S. sales and slightly lowered our 2019 U.S. Xerava ests. Tetraphase recently disclosed an oncology program leveraging the fully synthetic tetracycline platform. Data are to be presented at upcoming AACR mtg. Mgmt appears to be proceeding carefully, but we view the strategic expansion into oncology favorably. The move may diversify the company’s revenue stream and expand its investor base. Maintain HOLD.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.0% and a 44.6% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Lexicon Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tetraphase with a $4.25 average price target.

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The company has a one-year high of $4.49 and a one-year low of $1.01. Currently, Tetraphase has an average volume of 737.2K.

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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.

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