Tetraphase Pharmaceuticals, Inc. (TTPH) Sees Strong Trading Volume on Analyst Upgrade
Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) saw strong trading volume on Wednesday after BMO Capital Markets raised their price target on the stock from $13.00 to $24.00. BMO Capital Markets currently has an outperform rating on the stock. 2,411,344 shares were traded during mid-day trading, an increase of 89% from the previous session’s volume of 1,273,370 shares.The stock last traded at $7.75 and had previously closed at $7.25.
TTPH has been the subject of a number of other reports. Stifel Nicolaus upgraded Tetraphase Pharmaceuticals from a “hold” rating to a “buy” rating and raised their price target for the stock from $8.00 to $15.00 in a research report on Wednesday, July 26th. HC Wainwright initiated coverage on Tetraphase Pharmaceuticals in a research report on Tuesday, July 11th. They issued a “buy” rating and a $15.00 price target for the company. Zacks Investment Research downgraded Tetraphase Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. BidaskClub upgraded Tetraphase Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Tetraphase Pharmaceuticals in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.96.
In related news, insider Jacques Dumas sold 17,500 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $6.00, for a total value of $105,000.00. Following the completion of the sale, the insider now directly owns 17,500 shares in the company, valued at $105,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TTPH. Tekla Capital Management LLC lifted its position in Tetraphase Pharmaceuticals by 422.2% in the first quarter. Tekla Capital Management LLC now owns 1,004,322 shares of the biopharmaceutical company’s stock worth $9,230,000 after buying an additional 812,000 shares during the last quarter. Numeric Investors LLC lifted its position in shares of Tetraphase Pharmaceuticals by 1,363.3% during the second quarter. Numeric Investors LLC now owns 754,364 shares of the biopharmaceutical company’s stock worth $5,379,000 after purchasing an additional 702,812 shares during the last quarter. EcoR1 Capital LLC bought a new stake in shares of Tetraphase Pharmaceuticals during the second quarter worth $4,516,000. Dimensional Fund Advisors LP lifted its position in shares of Tetraphase Pharmaceuticals by 73.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,101,255 shares of the biopharmaceutical company’s stock worth $7,853,000 after purchasing an additional 466,955 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 purchasing an additional 230,420 shares during the last quarter. Institutional investors own 41.73% of the company’s stock.
The firm has a 50 day moving average of $6.68 and a 200-day moving average of $7.29. The firm’s market capitalization is $395.66 million.
Tetraphase Pharmaceuticals (NASDAQ:TTPH) last issued its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.07). The company had revenue of $1.59 million during the quarter, compared to analysts’ expectations of $1.54 million. Tetraphase Pharmaceuticals had a negative net margin of 2,092.20% and a negative return on equity of 79.79%. The firm’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.47) earnings per share. Analysts predict that Tetraphase Pharmaceuticals, Inc. will post ($2.54) EPS for the current year.
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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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