Needham Sticks to Its Buy Rating for Iterum Therapeutics Plc (ITRM)

By Jason Carr

Needham analyst Alan Carr maintained a Buy rating on Iterum Therapeutics Plc (ITRMResearch Report) today and set a price target of $20. The company’s shares opened today at $7.02.

Carr said:

“Iterum reported 4Q18 financial results today. Mgmt reiterated guidance for top-line results from all three ongoing Phase 3 trials of sulopenem in 2H19 (complicated UTI, uncomplicated UTI, and complicated Intra- Abdominal Infections). We expect each trial to meet non-inferiority primary endpts, but acknowledge increased risk at reaching the secondary superiority endpt in the subset of patients w/ ciprofloxacin-resistant infections in the uUTI trial. Regardless, meeting primary non-inferiority endpts is sufficient for regulatory approval. The UTI market represents one of the most attractive opportunities in the antibiotic space due to absence of a sufficiently potent oral antibiotic coupled with a commercial opportunity that is large and primarily outside the hospital.”

According to TipRanks.com, Carr is a 4-star analyst with an average return of 4.1% 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 Lexicon Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Iterum Therapeutics Plc with a $20 average price target.

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The company has a one-year high of $13 and a one-year low of $4.70. Currently, Iterum Therapeutics Plc has an average volume of 12.08K.

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Iterum Therapeutics Plc is a holding company, which engages in the development and commercialization of innovative treatments for drug resistant bacterial infections. It focuses on sulopenem program that offer a solution to the problem of antibiotic resistance, and the toxicity limitations of existing agents.