Iterum Therapeutics plc [ITRM] Stock trading around $1.42 per share: What’s Next?

Iterum Therapeutics plc [NASDAQ: ITRM] stock went on a downward path that fall over -37.99% on Friday, amounting to a one-week price decrease of less than -31.40%. The company report on July 2, 2021 that Iterum Therapeutics Provides Regulatory Update.

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Iterum Therapeutics plc (Nasdaq: ITRM), a clinical-stage pharmaceutical company focused on developing next generation oral and IV antibiotics to treat infections caused by multi-drug resistant pathogens in both community and hospital settings, announced that the Company received a letter from the U.S. Food and Drug Administration (“FDA”) stating that, as part of their ongoing review of the Company’s New Drug Application (“NDA”) for sulopenem etzadroxil/probenecid, the agency has identified deficiencies that preclude the continuation of the discussion of labeling and post marketing requirements/commitments at this time. No details with respect to deficiencies were disclosed by the FDA in this notification and the letter further states that the notification does not reflect a final decision on the information under review. In a letter to the Company dated January 21, 2021, the FDA had assigned a Prescription Drug User Fee Act (“PDUFA”) goal date of July 25, 2021 for completion of its review of the NDA.

The Company intends to work with the FDA to understand the nature of the deficiencies and resolve them as quickly as possible.

Over the last 12 months, ITRM stock rose by 19.33%. The one-year Iterum Therapeutics plc stock forecast points to a potential upside of 36.89. The average equity rating for ITRM stock is currently 2.70, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $410.20 million, with 179.14 million shares outstanding and 176.16 million shares in the current float. Compared to the average trading volume of 12.81M shares, ITRM stock reached a trading volume of 83008152 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Iterum Therapeutics plc [ITRM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ITRM shares is $2.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ITRM stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Gabelli & Co have made an estimate for Iterum Therapeutics plc shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 28, 2021. The new note on the price target was released on March 15, 2021, representing the official price target for Iterum Therapeutics plc stock. Previously, the target price had yet another drop from $7 to $2, while RBC Capital Mkts kept a Sector Perform rating on ITRM stock.

The Average True Range (ATR) for Iterum Therapeutics plc is set at 0.23 The Price to Book ratio for the last quarter was 5.46, with the Price to Cash per share for the same quarter was set at 0.36.

ITRM Stock Performance Analysis:

Iterum Therapeutics plc [ITRM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -31.40. With this latest performance, ITRM shares dropped by -7.79% in over the last four-week period, additionally plugging by 43.58% over the last 6 months – not to mention a rise of 19.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ITRM stock in for the last two-week period is set at 36.11, with the RSI for the last a single of trading hit 27.60, and the three-weeks RSI is set at 41.57 for Iterum Therapeutics plc [ITRM]. The present Moving Average for the last 50 days of trading for this stock 1.5128, while it was recorded at 2.1560 for the last single week of trading, and 1.2427 for the last 200 days.

Insight into Iterum Therapeutics plc Fundamentals:

Reflecting on the efficiency of the workforce at the company, Iterum Therapeutics plc [ITRM] managed to generate an average of -$7,429,429 per employee.Iterum Therapeutics plc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.40.

Iterum Therapeutics plc [ITRM] Insider Position Details

There are presently around $11 million, or 9.50% of ITRM stock, in the hands of institutional investors. The top three institutional holders of ITRM stocks are: CANAAN PARTNERS X LLC with ownership of 1,733,170, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; FRAZIER MANAGEMENT LLC, holding 1,538,316 shares of the stock with an approximate value of $2.18 million in ITRM stocks shares; and NEW LEAF VENTURE PARTNERS, L.L.C., currently with $2.07 million in ITRM stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Iterum Therapeutics plc stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 40 institutional holders increased their position in Iterum Therapeutics plc [NASDAQ:ITRM] by around 2,762,827 shares. Additionally, 5 investors decreased positions by around 1,771,293 shares, while 8 investors held positions by with 3,441,238 shares. The mentioned changes placed institutional holdings at 7,975,358 shares, according to the latest SEC report filing. ITRM stock had 34 new institutional investments in for a total of 2,103,244 shares, while 4 institutional investors sold positions of 1,747,985 shares during the same period.

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