Canada Pension Plan Investment Board Raises Position in Tetraphase Pharmaceuticals, Inc. (TTPH)
Canada Pension Plan Investment Board increased its stake in shares of Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) by 54.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,554,100 shares of the biopharmaceutical company’s stock after purchasing an additional 900,000 shares during the period. Canada Pension Plan Investment Board owned 5.00% of Tetraphase Pharmaceuticals worth $17,470,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. EcoR1 Capital LLC acquired a new position in shares of Tetraphase Pharmaceuticals during the 2nd quarter worth approximately $4,516,000. State Street Corp grew 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 acquiring an additional 43,561 shares during the period. PDT Partners LLC grew 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 acquiring an additional 34,665 shares during the period. Balyasny Asset Management LLC grew 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 acquiring an additional 28,800 shares during the period. Finally, Numeric Investors LLC grew 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 acquiring an additional 702,812 shares during the period. Hedge funds and other institutional investors own 42.68% of the company’s stock.
Several analysts have commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Tetraphase Pharmaceuticals in a research note on Sunday, September 17th. Zacks Investment Research raised shares of Tetraphase Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research note on Saturday, September 23rd. BidaskClub cut shares of Tetraphase Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $13.00 target price on shares of Tetraphase Pharmaceuticals in a research note on Tuesday, September 12th. Finally, BMO Capital Markets lifted their target price on shares of Tetraphase Pharmaceuticals from $13.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Tetraphase Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $15.15.
Shares of Tetraphase Pharmaceuticals, Inc. (TTPH) opened at $6.30 on Thursday. Tetraphase Pharmaceuticals, Inc. has a 12 month low of $3.39 and a 12 month high of $9.93.
Tetraphase Pharmaceuticals (NASDAQ:TTPH) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.63). Tetraphase Pharmaceuticals had a negative net margin of 1,382.33% and a negative return on equity of 88.27%. The company had revenue of $4.10 million during the quarter, compared to analysts’ expectations of $1.59 million. During the same period in the previous year, the company earned ($0.58) EPS. The business’s quarterly revenue was up 355.6% compared to the same quarter last year. analysts expect that Tetraphase Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.
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In other news, insider Jacques Dumas sold 7,155 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $5.86, for a total transaction of $41,928.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 33,405 shares of company stock valued at $199,691 over the last three months. Corporate insiders own 5.50% of the company’s stock.
Tetraphase Pharmaceuticals Profile
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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