Iterum Therapeutics (NASDAQ:ITRM) Given Hold Rating at Royal Bank of Canada
Royal Bank of Canada restated their hold rating on shares of Iterum Therapeutics (NASDAQ:ITRM) in a research note released on Monday morning, AnalystRatings.com reports. Royal Bank of Canada currently has a $2.00 price objective on the stock.
Several other brokerages have also recently issued reports on ITRM. Needham & Company LLC reissued a buy rating and set a $7.00 target price on shares of Iterum Therapeutics in a report on Thursday, May 14th. HC Wainwright cut shares of Iterum Therapeutics from a buy rating to a neutral rating in a report on Tuesday, June 16th. Zacks Investment Research cut shares of Iterum Therapeutics from a buy rating to a hold rating in a report on Wednesday, August 5th. Finally, SVB Leerink reduced their target price on shares of Iterum Therapeutics from $2.00 to $1.00 and set a market perform rating for the company in a report on Tuesday, June 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $4.60.
NASDAQ ITRM opened at $0.89 on Monday. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $2.26. The stock has a market cap of $18.90 million, a P/E ratio of -0.16 and a beta of 1.15. Iterum Therapeutics has a 12-month low of $0.85 and a 12-month high of $7.50.
In other Iterum Therapeutics news, major shareholder Sofinnova Venture Partners Ix, sold 100,000 shares of Iterum Therapeutics stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.69, for a total value of $169,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 38.10% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Iterum Therapeutics stock. UBS Group AG grew its stake in Iterum Therapeutics PLC (NASDAQ:ITRM) by 542.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,492 shares of the company’s stock after purchasing an additional 10,547 shares during the quarter. UBS Group AG owned approximately 0.09% of Iterum Therapeutics worth $34,000 as of its most recent SEC filing. 48.80% of the stock is owned by institutional investors and hedge funds.
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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