Tetraphase Pharmaceuticals: Gabelli continues to recommend Cempra as a likely takeout in the consolidating antibiotic sector
Gabelli notes TTPH is indicating up over 15% premarket following speculation that the company is exploring a sale with Actelion and Roche as potential bidders. TTPH has been their favorite name in the antibiotics space. Following Actavis' purchase of Durata in October, and the speculated sale of Tetraphase, they also continue to recommend Cempra as a likely takeout in the consolidating antibiotic sector; $24 PMV,