Cantor Fitzgerald Starts Tetraphase Pharmaceuticals (TTPH) at Buy

Cantor Fitzgerald initiated coverage on Tetraphase Pharmaceuticals (NASDAQ: TTPH) with a Buy rating and a price target of $22.

Analyst Daniel Brims said, "We are initiating coverage of TTPH with a BUY rating and $22 target price based on eravacycline’s ("erava") expected peak revenues of $1.3B in 2025. TTPH has initiated two phase 3 trials to support approval in both cUTI and cIAI, which we expect to read out in early 2015, with FDA approval of erava in 2016. TTPH has a family of preclinical and phase 1 antibiotics, including TP-834 and TP-271, which we have currently not included in our valuation, but through partnering are a source of potential non-dilutive financing, giving additional upside to our valuation."

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

Shares of Tetraphase Pharmaceuticals closed at $14.98 yesterday.

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