Iterum Therapeutics (ITRM) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Iterum Therapeutics (NASDAQ:ITRM) from a hold rating to a sell rating in a research report released on Wednesday morning.

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. “

A number of other equities research analysts have also recently issued reports on ITRM. Guggenheim started coverage on Iterum Therapeutics in a report on Tuesday, June 19th. They set a buy rating and a $21.00 price objective for the company. Leerink Swann started coverage on Iterum Therapeutics in a report on Tuesday, June 19th. They set an outperform rating and a $18.00 price objective for the company. Needham & Company LLC started coverage on Iterum Therapeutics in a report on Tuesday, June 19th. They set a buy rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada started coverage on Iterum Therapeutics in a report on Tuesday, June 19th. They set an outperform rating and a $24.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Iterum Therapeutics presently has a consensus rating of Buy and an average price target of $20.75.

Shares of NASDAQ:ITRM traded down $0.16 during trading on Wednesday, reaching $6.33. 6,436 shares of the stock were exchanged, compared to its average volume of 22,993. Iterum Therapeutics has a 12 month low of $5.84 and a 12 month high of $13.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.53 and a current ratio of 11.53.

Iterum Therapeutics (NASDAQ:ITRM) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($2.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.78). The firm had revenue of $0.19 million during the quarter. As a group, analysts expect that Iterum Therapeutics will post -11.3 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Granahan Investment Management Inc. MA acquired a new stake in shares of Iterum Therapeutics in the second quarter valued at approximately $2,570,000. Millennium Management LLC acquired a new position in shares of Iterum Therapeutics during the second quarter worth $1,867,000. Frazier Management LLC bought a new stake in shares of Iterum Therapeutics in the second quarter worth $16,414,000. Flinton Capital Management LLC bought a new stake in shares of Iterum Therapeutics in the second quarter worth $556,000. Finally, Glen Harbor Capital Management LLC bought a new stake in shares of Iterum Therapeutics in the second quarter worth $318,000. Institutional investors own 47.63% of the company’s stock.

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. The company is developing sulopenem, a penem anti-infective compound with oral and IV formulations that is in Phase III clinical trials for the treatment of adults in uncomplicated urinary tract infections, complicated urinary tract infections, and complicated intra-abdominal infections.

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