Tetralogic Pharmaceuticals (TLOG) Sell-Off on Ovarian Cancer Data Overdone, Needham & Company Says

Needham & Company analyst Chad Messer reiterated a Buy rating and 416 price target on Tetralogic Pharmaceuticals (NASDAQ: TLOG) Wednesday, saying the sell-off on ovarian cancer data is overdone.

Messer commented, "TetraLogic released updated Phase Ib data from a combination birinapant + conatumumab (AMGN) study in patients with refractory ovarian cancer. A total of 18 patients have been dosed to date, with 1 PR and 2 SD. Despite these signs of efficacy, greater than anticipated toxicity has been observed. TetraLogic will continue enrolling this study with lower doses and frequency of birinapant. As we have always viewed ovarian cancer data as a wildcard, we believe yesterday's sell-off is overdone."

For an analyst ratings summary and ratings history on Tetralogic Pharmaceuticals click here. For more ratings news on Tetralogic Pharmaceuticals click here.

Shares of Tetralogic Pharmaceuticals closed at $4.46 yesterday.

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