Tetraphase Pharmaceuticals, Inc. (TTPH) Downgraded to “Hold” at Zacks Investment Research
Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
A number of other equities research analysts also recently commented on the stock. Piper Jaffray Companies assumed coverage on shares of Tetraphase Pharmaceuticals in a research report on Monday, August 28th. They issued an “overweight” rating and a $14.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and set a $13.00 price objective (up previously from $12.00) on shares of Tetraphase Pharmaceuticals in a research report on Wednesday, July 26th. Stifel Nicolaus raised shares of Tetraphase Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $8.00 to $15.00 in a research report on Wednesday, July 26th. HC Wainwright began coverage on shares of Tetraphase Pharmaceuticals in a research report on Tuesday, July 11th. They set a “buy” rating and a $15.00 price objective for the company. Finally, ValuEngine downgraded shares of Tetraphase Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $10.88.
Tetraphase Pharmaceuticals (NASDAQ TTPH) traded down 4.24% during trading on Friday, reaching $6.55. The company’s stock had a trading volume of 1,060,780 shares. The stock’s market cap is $334.40 million. Tetraphase Pharmaceuticals has a 52-week low of $3.11 and a 52-week high of $9.93. The firm has a 50 day moving average price of $6.31 and a 200-day moving average price of $7.31.
Tetraphase Pharmaceuticals (NASDAQ:TTPH) last announced its quarterly earnings data on Wednesday, August 2nd. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.07). Tetraphase Pharmaceuticals had a negative return on equity of 79.79% and a negative net margin of 2,092.20%. The firm had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.54 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. Tetraphase Pharmaceuticals’s revenue was up 28.2% on a year-over-year basis. On average, analysts expect that Tetraphase Pharmaceuticals will post ($2.54) earnings per share for the current year.
In related news, insider Jacques Dumas sold 7,155 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $5.86, for a total value of $41,928.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. EcoR1 Capital LLC purchased a new stake in Tetraphase Pharmaceuticals in the 2nd quarter worth $4,516,000. State Street Corp lifted its stake in Tetraphase Pharmaceuticals by 6.4% in the 2nd quarter. State Street Corp now owns 725,094 shares of the biopharmaceutical company’s stock worth $5,165,000 after purchasing an additional 43,561 shares in the last quarter. PDT Partners LLC lifted its stake in Tetraphase Pharmaceuticals by 22.0% in the 2nd quarter. PDT Partners LLC now owns 191,952 shares of the biopharmaceutical company’s stock worth $1,369,000 after purchasing an additional 34,665 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in Tetraphase Pharmaceuticals by 13.2% in the 2nd quarter. Balyasny Asset Management LLC now owns 246,300 shares of the biopharmaceutical company’s stock worth $1,756,000 after purchasing an additional 28,800 shares in the last quarter. Finally, Numeric Investors LLC lifted its stake in Tetraphase Pharmaceuticals by 1,363.3% in the 2nd quarter. Numeric Investors LLC now owns 754,364 shares of the biopharmaceutical company’s stock worth $5,379,000 after purchasing an additional 702,812 shares in the last quarter. Institutional investors and hedge funds own 41.73% of the company’s stock.
About Tetraphase Pharmaceuticals
Tetraphase Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company uses its chemistry technology to create antibiotics for multidrug-resistant infections. The Company 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, including multidrug-resistant gram-negative infections.
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