Tetraphase Pharmaceuticals Inc. (NASDAQ:TTPH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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 analysts have also commented on TTPH. BMO Capital Markets reaffirmed a “hold” rating and issued a $6.00 target price on shares of Tetraphase Pharmaceuticals in a research report on Friday, November 4th. Wedbush reaffirmed a “neutral” rating and issued a $4.00 target price on shares of Tetraphase Pharmaceuticals in a research report on Friday, November 4th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $8.81.

Analyst Recommendations for Tetraphase Pharmaceuticals (NASDAQ:TTPH)

Shares of Tetraphase Pharmaceuticals (NASDAQ:TTPH) opened at 3.87 on Wednesday. The firm’s market capitalization is $142.82 million. The stock has a 50 day moving average price of $3.68 and a 200-day moving average price of $4.05. Tetraphase Pharmaceuticals has a 52-week low of $3.11 and a 52-week high of $12.45.

Tetraphase Pharmaceuticals (NASDAQ:TTPH) last issued its earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by $0.08. Tetraphase Pharmaceuticals had a negative net margin of 1,120.67% and a negative return on equity of 39.95%. The firm earned $0.90 million during the quarter, compared to the consensus estimate of $1.58 million. During the same period in the previous year, the firm earned ($0.49) earnings per share. The business’s quarterly revenue was down 69.0% on a year-over-year basis. Equities analysts forecast that Tetraphase Pharmaceuticals will post ($2.06) EPS for the current year.

A number of hedge funds have recently modified their holdings of the company. BlackRock Fund Advisors raised its stake in shares of Tetraphase Pharmaceuticals by 6.5% in the third quarter. BlackRock Fund Advisors now owns 1,526,146 shares of the biopharmaceutical company’s stock worth $5,845,000 after buying an additional 93,444 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Tetraphase Pharmaceuticals by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 899,092 shares of the biopharmaceutical company’s stock valued at $3,444,000 after buying an additional 2,723 shares in the last quarter. Northern Trust Corp raised its position in Tetraphase Pharmaceuticals by 36.9% in the third quarter. Northern Trust Corp now owns 831,594 shares of the biopharmaceutical company’s stock valued at $3,185,000 after buying an additional 224,027 shares in the last quarter. State Street Corp raised its position in Tetraphase Pharmaceuticals by 0.5% in the second quarter. State Street Corp now owns 695,480 shares of the biopharmaceutical company’s stock valued at $2,989,000 after buying an additional 3,575 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in Tetraphase Pharmaceuticals by 31.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 374,000 shares of the biopharmaceutical company’s stock valued at $1,608,000 after buying an additional 90,000 shares in the last quarter. 59.30% of the stock is owned by hedge funds and other 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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