Tetraphase Pharmaceuticals (TTPH) PT Raised to $51 at Wedbush

Wedbush analyst Heather Behanna reiterated an Outperform rating and boosted her price target on Tetraphase Pharmaceuticals (NASDAQ: TTPH) to $51.00 (from $31.00) after Eravacycline hits its endpoints in Phase III study for abdominal infections (cIAI).

Behanna noted information on the call was sparse ahead of data presentation in 2015. The assume Tetraphase will present these data at ECCMID this spring. "Although absolute response rates were not reported, our analysis of Phase II data for the relevant FDA population suggests response rates in the high 80% range; confidence intervals suggest eravacycline efficacy fell within 2% of ertapenem. Our analysis suggests these data are at least as robust as data observed for gram-negative drug Zerbaxa (in combination with metronidazole)."

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 $33.19 yesterday.

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