Iterum Therapeutics (NASDAQ:ITRM) Upgraded by Zacks Investment Research to Buy

Iterum Therapeutics (NASDAQ:ITRM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The firm currently has a $1.75 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.46% from the company’s current price.

According to Zacks, “Iterum Therapeutics plc is a clinical-stage pharmaceutical company. It develops and markets therapies to address unmet medical needs, as well as provides anti-infectives to treat multi-drug resistant pathogens. The company’s product pipeline consists of uncomplicated urinary tract infections, complicated urinary tract infections and complicated intra abdominal infections. Iterum Therapeutics plc is based in Dublin, Ireland. “

Separately, HC Wainwright raised Iterum Therapeutics from a “neutral” rating to a “buy” rating and set a $2.50 target price for the company in a report on Monday, March 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $2.95.

Iterum Therapeutics stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.57. The company’s stock had a trading volume of 12,724,037 shares, compared to its average volume of 25,658,559. The company has a market capitalization of $277.07 million, a P/E ratio of -0.39 and a beta of 1.49. The firm’s fifty day moving average price is $1.63 and its two-hundred day moving average price is $1.16. Iterum Therapeutics has a 12-month low of $0.45 and a 12-month high of $6.02.

Iterum Therapeutics (NASDAQ:ITRM) last announced its quarterly earnings results on Thursday, March 11th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. Equities analysts expect that Iterum Therapeutics will post -1.74 EPS for the current fiscal year.

In other news, Director Michael W. Dunne sold 33,143 shares of the business’s stock in a transaction dated Tuesday, January 26th. The stock was sold at an average price of $1.73, for a total transaction of $57,337.39. Following the completion of the transaction, the director now owns 289,498 shares of the company’s stock, valued at $500,831.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Judith M. Matthews sold 33,868 shares of the company’s stock in a transaction that occurred on Tuesday, January 26th. The stock was sold at an average price of $1.73, for a total transaction of $58,591.64. Following the completion of the transaction, the chief financial officer now owns 62,500 shares in the company, valued at $108,125. The disclosure for this sale can be found here. Insiders sold 10,152,456 shares of company stock worth $26,163,749 in the last quarter. 22.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in shares of Iterum Therapeutics during the 4th quarter worth $43,000. Clear Street Markets LLC purchased a new stake in Iterum Therapeutics during the fourth quarter valued at about $54,000. Grimes & Company Inc. bought a new stake in Iterum Therapeutics during the fourth quarter worth about $71,000. Focused Wealth Management Inc purchased a new position in shares of Iterum Therapeutics in the 4th quarter worth about $74,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Iterum Therapeutics in the 4th quarter worth about $725,000. 10.14% of the stock is currently owned by hedge funds and other institutional investors.

About Iterum Therapeutics

Iterum Therapeutics plc, a clinical-stage pharmaceutical company, engages in developing anti-infectives for multi-drug resistant pathogens in Ireland and the United States. It is developing sulopenem, a novel anti-infective compound with oral and IV formulations that is in Phase III clinical trials for the treatment of uncomplicated urinary tract infections, complicated urinary tract infections, and complicated intra-abdominal infections.

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