Tetralogic Pharmaceuticals (TLOG) Target Cut at Needham & Company; 'Buy' Maintained

Needham & Company analyst Chad Messer cut his price target on Tetralogic Pharmaceuticals (NASDAQ: TLOG) to $10.00 (from $16.00) while maintaining a Buy rating following Q4 results and an update on its clinical programs.

Messer commented, "Birinapant is in 3 ongoing studies that will all report in 2015. Based on earlier Phase Ib data in MDS we have the highest expectations for interim Phase II data in that indication, but the earlier stage ovarian and HBV data could also provide meaningful upside given the size of the potential opportunities. Phase II data from the company's topical HDAC SHAPE is due around YE:15 with a Phase III study expected to commence thereafter. The opportunity for SHAPE in CTCL is more modest but we view the program as highly derisked. We believe TLOG shares trade at a significant discount to fair value given these multiple shots on goal."

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 $4.82 yesterday.

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