Today’s Research Reports on Stocks to Watch: Tetraphase Pharmaceuticals and Medtronic

NEW YORK, NY / ACCESSWIRE / May 8, 2018 / Shares of medical stocks Tetraphase Pharamceuticals and Medtronic both saw gains on Monday. Tetraphase shares blasted off after the company reported first quarter earnings. Shares of Medtronic shares soared after it was announced that J.P. Morgan Chase & Co. managing director Mike Weinstein has joined the company.

RDI Initiates Coverage on:

Tetraphase Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=TTPH

Medtronic plc
https://rdinvesting.com/news/?ticker=MDT

Tetraphase Pharmaceuticals, Inc. shares closed up 12.69% on Monday with nearly 1.8 million shares traded. There was no news from the company yesterday but it was last week that the biotech, which is focused on developing and commercializing novel antibiotics to treat life-threatening multidrug-resistant infections, reported first quarter 2018 financial results. For the quarter the company reported a loss of $21.6 million. A loss of 42 cents a share was a penny shy of the loss of 41 cents that analysts had been expecting. Revenue at $1.9 million was in line however with estimates. CEO Guy Macdonald remarked, “During the first quarter, we revised our eravacycline strategy to focus primarily on the commercialization of the IV formulation of the drug in complicated intra-abdominal infections (cIAI), for which we have submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) based on the positive results of the IGNITE1 and IGNITE4 phase 3 clinical trials.”

“We recently presented data from IGNITE4, in which eravacycline demonstrated statistical non-inferiority to meropenem, at the 28th European Congress of Clinical Microbiology and Infectious Diseases (ECCMID). We believe these data underscore the opportunity for eravacycline to address a critical unmet need in the treatment paradigm for gram-negative, multidrug-resistant infections. We are especially excited to move forward with commercial preparations to bring eravacycline to market as a treatment for cIAI in the second half of 2018, pending U.S. regulatory approval following our PDUFA date of August 28.”

Access RDI’s Tetraphase Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=TTPH

Medtronic plc shares closed up 4.61% on about 10.8 million shares traded yesterday. The medical device making company saw its shares jump after announcing that it has hired JPMorgan equity research managing director Mike Weinstein as senior vice president for strategy. Weinstein stated, “I see in Medtronic the opportunity to continue to create significant shareholder value, and I couldn`t be more excited to join the global leader in medical technology and contribute to its Mission. Having covered Medtronic for more than two decades now, I have full confidence in the outlook and the strategy, and our ability to unlock that value in the months and years ahead.” Weinstein will be reporting to Chief Financial Officer Karen Parkhill. CEO Omar Ishrak commented, “We are excited to welcome Mike to Medtronic. He is deeply respected within the industry and brings with him vast knowledge of our markets, technologies, and growth strategies. I look forward to his contributions to the company, including his expert guidance and insights, as well as the new perspective he will bring to our organization.”

Access RDI’s Medtronic plc Research Report at:
https://rdinvesting.com/news/?ticker=MDT

Our Actionable Research on Tetraphase Pharmaceuticals, Inc. (NASDAQ: TTPH) and Medtronic plc (NYSE: MDT) can be downloaded free of charge at Research Driven Investing.

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