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Fly News Breaks for May 10, 2019
TTPH
May 10, 2019 | 08:58 EDT
SunTrust analyst Edward Nash lowered his price target on Tetraphase to $4 after its lower than expected Q1 revenue but keeps his Buy rating on the "meaningful progress" being made with its Xerava launch. The analyst contends that the antibiotic hospital launches take some time and "patience is required" before Xerava starts to see a "meaningful" pull-through in Q4 of this year or in Q1 of FY20. The analyst adds that he reduced his assumed penetration for Xerava to a more "tempered" uptake that is "typical" in hospital settings.
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