Iterum Therapeutics PLC (ITRM) Given Consensus Recommendation of “Strong Buy” by Analysts

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

Brokerages have set a 12-month consensus price objective of $21.00 for the company and are expecting that the company will post ($1.29) earnings per share for the current quarter, according to Zacks. Zacks has also given Iterum Therapeutics an industry rank of 120 out of 255 based on the ratings given to its competitors.

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

In other Iterum Therapeutics news, major shareholder Sofinnova Venture Partners Ix, purchased 500,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were purchased at an average cost of $13.00 per share, with a total value of $6,500,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patrick J. Heron purchased 456,099 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $5,929,287.00. The disclosure for this purchase can be found here. Insiders acquired 965,099 shares of company stock valued at $12,546,287 in the last quarter.

A number of large investors have recently modified their holdings of the business. Dean Capital Investments Management LLC acquired a new position in shares of Iterum Therapeutics during the 2nd quarter worth about $406,000. Tyers Asset Management LLC acquired a new position in shares of Iterum Therapeutics during the 2nd quarter worth about $437,000. Neuburgh Advisers LLC acquired a new position in shares of Iterum Therapeutics during the 2nd quarter worth about $675,000. Finally, Tiverton Asset Management LLC acquired a new position in shares of Iterum Therapeutics during the 2nd quarter worth about $1,529,000.

NASDAQ ITRM traded down $0.10 during trading hours on Friday, reaching $8.78. 1,792 shares of the company’s stock traded hands, compared to its average volume of 13,877. Iterum Therapeutics has a 52-week low of $8.13 and a 52-week high of $13.00.

Iterum Therapeutics Company Profile

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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