Brokerages Set $21.00 Price Target for Iterum Therapeutics PLC (ITRM)

Shares of Iterum Therapeutics PLC (NASDAQ:ITRM) have earned an average broker rating score of 1.33 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company.

Brokerages have set a 12 month consensus target price of $21.00 for the company and are expecting that the company will post ($1.96) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Iterum Therapeutics an industry rank of 110 out of 255 based on the ratings given to its competitors.

A number of research firms have commented on ITRM. Guggenheim began coverage on Iterum Therapeutics in a report on Tuesday, June 19th. They set a “buy” rating and a $21.00 price target on the stock. Needham & Company LLC assumed coverage on Iterum Therapeutics in a report on Tuesday, June 19th. They set a “buy” rating and a $20.00 price target on the stock. Leerink Swann assumed coverage on Iterum Therapeutics in a research report on Tuesday, June 19th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Royal Bank of Canada assumed coverage on Iterum Therapeutics in a research report on Tuesday, June 19th. They set an “outperform” rating and a $24.00 price objective for the company.

Iterum Therapeutics stock traded down $0.49 during trading on Wednesday, reaching $7.00. The company had a trading volume of 300 shares, compared to its average volume of 43,439. Iterum Therapeutics has a 52 week low of $6.69 and a 52 week high of $13.00. The company has a quick ratio of 11.53, a current ratio of 11.53 and a debt-to-equity ratio of 0.12.

Iterum Therapeutics (NASDAQ:ITRM) last announced its earnings results on Tuesday, August 14th. The company reported ($2.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.44) by ($0.78). The company had revenue of $0.19 million during the quarter. equities analysts expect that Iterum Therapeutics will post -11.29 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Neuburgh Advisers LLC acquired a new position in shares of Iterum Therapeutics during the second quarter worth $675,000. Glen Harbor Capital Management LLC acquired a new stake in Iterum Therapeutics in the 2nd quarter valued at about $318,000. Dean Capital Investments Management LLC acquired a new stake in Iterum Therapeutics in the 2nd quarter valued at about $406,000. Tyers Asset Management LLC acquired a new stake in Iterum Therapeutics in the 2nd quarter valued at about $437,000. Finally, Granahan Investment Management Inc. MA acquired a new stake in Iterum Therapeutics in the 2nd quarter valued at about $2,570,000. Hedge funds and other 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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