Tetraphase Pharmaceuticals (NASDAQ:TTPH) initiated with Overweight rating and $14 (115% upside) price target by Piper Jaffray.
Clementia Pharmaceuticals (Pending:CMTA) initiated with Overweight rating by Morgan Stanley. Leerink does the same with a $23 (44% upside) price target as does Wedbush with a $26 (63% upside) price target.
AmpliPhi Biosciences (NYSEMKT:APHB) initiated with Buy rating with a $5 (541% upside) price target by H.C. Wainwright.
Chemed (NYSE:CHE) initiated with Sector Weight rating by KeyBanc.
Edwards Lifesciences (NYSE:EW) resumed with Outperform rating by William Blair.
NuVasive (NASDAQ:NUVA) downgraded to Underperform with a $50 (19% downside risk) price target by Needham citing improved performance in the spine arena by Medtronic.
Merit Medical (NASDAQ:MMSI) downgraded to Outperform from Strong Buy by Raymond James.
Tetraphase Pharmaceuticals (NASDAQ:TTPH) is up 5% premarket on light volume in response to its announcement that the European Medicines Agency (EMA) has validated its marketing application seeking approval for IV eravacycline for the treatment of complicated intra-abdominal infections.
It plans to file its marketing application in the U.S. in Q1 2018.
Tetraphase Pharmaceuticals (NASDAQ:TTPH) announces positive results from a Phase 3 clinical trial, IGNITE4, assessing twice-daily intravenous (IV) eravacycline compared to meropenem in patients with complicated intra-abdominal infections (cIAI). Data from the 500-subject study showed statistical non-inferiority of eravacycline to meropenem as measured by clinical response at the test-of-cure visit.
The company plans to file its European marketing application this quarter and its U.S. marketing application in Q1 2018.
Tetraphase Pharmaceuticals' (NASDAQ:TTPH) pipeline candidate TP-6076 was selected to receive $4M in research funding from the Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X).
Tetraphase CEO Guy Macdonald notes the "exceptional in vitro potency against two of the most dangerous organisms, carbapenem-resistant Enterobacteriaceae (CRE) and carbapenem-resistant Acinetobacter baumannii (CRAB)."