Tetraphase Pharmaceuticals Inc. (TTPH) Upgraded by Zacks Investment Research to Buy
Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $4.25 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective indicates a potential upside of 13.03% from the company’s previous close.
According to Zacks, “Tetraphase Pharmaceuticals, Inc. is a life science company engaged in developing and commercializing tetracycline based drugs to treat drug-resistant infectious diseases, inflammation, and cancer. Its principal products include eravacycline, an intravenous and oral antibiotic for the treatment of multi-drug resistant Gram-negative infections. The Company’s product under development includes eravacycline oral formulation, TP-834 and TP-271. Tetraphase Pharmaceuticals, Inc. is based in Watertown, Massachusetts. “
Separately, Wedbush reissued a “neutral” rating and issued a $4.00 price target on shares of Tetraphase Pharmaceuticals in a research report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.15.
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Tetraphase Pharmaceuticals (NASDAQ:TTPH) traded down 3.46% during mid-day trading on Tuesday, hitting $3.63. The stock had a trading volume of 140,213 shares. Tetraphase Pharmaceuticals has a 1-year low of $3.12 and a 1-year high of $12.45. The company’s market cap is $133.21 million. The company has a 50-day moving average price of $3.82 and a 200 day moving average price of $4.27.
Tetraphase Pharmaceuticals (NASDAQ:TTPH) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by $0.01. Tetraphase Pharmaceuticals had a negative net margin of 821.25% and a negative return on equity of 35.43%. The business earned $1.20 million during the quarter, compared to the consensus estimate of $2.05 million. During the same period last year, the firm earned ($0.72) EPS. The business’s revenue for the quarter was down 63.6% on a year-over-year basis. Equities research analysts forecast that Tetraphase Pharmaceuticals will post ($1.98) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its position in shares of Tetraphase Pharmaceuticals by 50.1% in the second quarter. Rhumbline Advisers now owns 57,435 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 19,180 shares in the last quarter. Alliancebernstein L.P. boosted its position in Tetraphase Pharmaceuticals by 20.3% in the second quarter. Alliancebernstein L.P. now owns 55,400 shares of the biopharmaceutical company’s stock worth $238,000 after buying an additional 9,360 shares in the last quarter. BlackRock Fund Advisors boosted its position in Tetraphase Pharmaceuticals by 7.2% in the second quarter. BlackRock Fund Advisors now owns 1,432,702 shares of the biopharmaceutical company’s stock worth $6,161,000 after buying an additional 96,291 shares in the last quarter. BlackRock Investment Management LLC boosted its position in Tetraphase Pharmaceuticals by 22.5% in the second quarter. BlackRock Investment Management LLC now owns 151,120 shares of the biopharmaceutical company’s stock worth $650,000 after buying an additional 27,767 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Tetraphase Pharmaceuticals by 103.4% in the second quarter. Gabelli Funds LLC now owns 120,000 shares of the biopharmaceutical company’s stock worth $516,000 after buying an additional 61,000 shares in the last quarter. 59.41% of the stock is owned by institutional investors.
About Tetraphase Pharmaceuticals
Tetraphase Pharmaceuticals, Inc (Tetraphase) is a clinical-stage biopharmaceutical company. The Company uses its chemistry technology to create antibiotics for multidrug-resistant infections. It is developing its lead product candidate, eravacycline, a fully synthetic tetracycline derivative, as a spectrum intravenous (IV) and oral antibiotic for use as a first-line empiric monotherapy for the treatment of multidrug-resistant infections.
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