Tetraphase should be bought into August 28 PDUFA, says H.C. Wainwright

H.C. Wainwright analyst Ed Arce recommends buying shares of Tetraphase Pharmaceuticals heading into the August 28 FDA action date for the company’s lead drug, intravenous Xerava, a possible treatment of complicated intra-abdominal infections. The analyst views the lack of an FDA panel meeting, combined with the drug’s six-month priority review, as a positive signal on approvability. He sees a favorable risk/reward scenario ahead of Xerava’s “likely approval” and reiterates a Buy rating on Tetraphase with a $6 price target.

https://bit.ly/2Kwg3kr