Needham Remains a Hold on Tetraphase

By Austin Angelo

In a report issued on September 15, Alan Carr from Needham reiterated a Hold rating on Tetraphase (NASDAQ: TTPH). The company’s shares closed on Friday at $6.94.

According to TipRanks.com, Carr is a 4-star analyst with an average return of 7.3% and a 44.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.

Tetraphase has an analyst consensus of Strong Buy, with a price target consensus of $13.75.

Based on Tetraphase’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.59 million and GAAP net loss of $31.81 million. In comparison, last year the company earned revenue of $1.24 million and had a GAAP net loss of $17.17 million.

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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.