Tetraphase Pharmaceuticals’ (TTPH) Buy Rating Reaffirmed at HC Wainwright
Tetraphase Pharmaceuticals (NASDAQ:TTPH)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Tuesday. They currently have a $17.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential upside of 191.10% from the stock’s current price.
A number of other research analysts have also recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 target price on shares of Tetraphase Pharmaceuticals in a report on Tuesday, September 12th. Piper Jaffray Companies started coverage on Tetraphase Pharmaceuticals in a report on Monday, August 28th. They issued an “overweight” rating and a $14.00 target price on the stock. Zacks Investment Research upgraded Tetraphase Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 28th. ValuEngine cut Tetraphase Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, BMO Capital Markets lifted their target price on Tetraphase Pharmaceuticals from $13.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.15.
Shares of Tetraphase Pharmaceuticals (NASDAQ TTPH) traded down $0.16 during trading on Tuesday, reaching $5.84. The company had a trading volume of 474,700 shares, compared to its average volume of 709,861. Tetraphase Pharmaceuticals has a 52-week low of $3.57 and a 52-week high of $9.93.
In related news, Director L Patrick Gage acquired 3,880 shares of Tetraphase Pharmaceuticals stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $6.45 per share, for a total transaction of $25,026.00. Following the completion of the purchase, the director now directly owns 38,880 shares in the company, valued at approximately $250,776. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jacques Dumas sold 8,750 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $6.03, for a total value of $52,762.50. Following the transaction, the insider now owns 8,750 shares in the company, valued at approximately $52,762.50. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Tetraphase Pharmaceuticals by 54.4% during the third quarter. Canada Pension Plan Investment Board now owns 2,554,100 shares of the biopharmaceutical company’s stock worth $17,470,000 after acquiring an additional 900,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Tetraphase Pharmaceuticals by 16.4% during the first quarter. Vanguard Group Inc. now owns 1,638,789 shares of the biopharmaceutical company’s stock worth $15,061,000 after acquiring an additional 230,420 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Tetraphase Pharmaceuticals by 32.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,461,807 shares of the biopharmaceutical company’s stock worth $9,998,000 after acquiring an additional 360,552 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Tetraphase Pharmaceuticals during the third quarter worth about $7,915,000. Finally, Northern Trust Corp increased its position in shares of Tetraphase Pharmaceuticals by 4.8% during the second quarter. Northern Trust Corp now owns 886,765 shares of the biopharmaceutical company’s stock worth $6,323,000 after acquiring an additional 40,668 shares during the last quarter. 58.19% of the stock is currently owned by institutional investors and hedge funds.
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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