Needham starts TetraLogic Pharma at Buy

Recently public TetraLogic Pharmaceuticals (TLOG +4%) trades higher in early action.

Helping the cause is Needham's Chad Messer, who has initiated the shares at Buy with a $16 price target.

TLOG "is now developing birinapant as a best-in-class IAP inhibitor with a well established safety profile in multiple indications for cancer and infectious disease," Messer notes.

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