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Fly News Breaks for August 3, 2017
TTPH
Aug 3, 2017 | 11:27 EDT
Stifel analyst Stephen Willey said Tetraphase's "quiet" Q2 report was not a surprise following last week's positive P3 IGNITE4 win and said an update later this quarter on oral oral eravacycline formulation development progress later this quarter represents a meaningful catalysts near-term. The analyst trimmed his price target to $13 from $15 to reflect the equity financing that took place in the quarter and believes recent weakness creates an interesting buying opportunity for value-based investors.
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