Paratek Pharmaceuticals’ (PRTK) “Overweight” Rating Reaffirmed at Cantor Fitzgerald
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued on Tuesday. Cantor Fitzgerald also issued estimates for Paratek Pharmaceuticals’ FY2017 earnings at ($3.42) EPS and FY2018 earnings at ($2.59) EPS.
PRTK has been the topic of several other reports. HC Wainwright boosted their target price on shares of Paratek Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Zacks Investment Research raised shares of Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Saturday, August 5th. BidaskClub downgraded shares of Paratek Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Raymond James Financial, Inc. assumed coverage on shares of Paratek Pharmaceuticals in a research note on Thursday, May 18th. They set a “strong-buy” rating and a $36.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Paratek Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $37.44.
Paratek Pharmaceuticals (PRTK) opened at 20.45 on Tuesday. Paratek Pharmaceuticals has a one year low of $9.80 and a one year high of $26.10. The firm’s market cap is $564.42 million. The company has a 50-day moving average price of $22.62 and a 200-day moving average price of $19.91.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.25. The firm had revenue of $7.51 million for the quarter, compared to analyst estimates of $7.50 million.
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In other news, VP Adam Woodrow sold 3,800 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total value of $89,604.00. Following the transaction, the vice president now directly owns 69,500 shares of the company’s stock, valued at $1,638,810. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael Bigham sold 5,075 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total transaction of $119,668.50. Following the completion of the transaction, the chairman now directly owns 109,500 shares in the company, valued at $2,582,010. The disclosure for this sale can be found here. Insiders sold 21,960 shares of company stock worth $524,342 over the last ninety days. 4.90% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of PRTK. Legal & General Group Plc increased its position in Paratek Pharmaceuticals by 13.3% in the second quarter. Legal & General Group Plc now owns 5,865 shares of the specialty pharmaceutical company’s stock worth $144,000 after buying an additional 687 shares during the period. Falcon Point Capital LLC bought a new position in Paratek Pharmaceuticals during the first quarter worth $200,000. Fox Run Management L.L.C. bought a new position in Paratek Pharmaceuticals during the second quarter worth $200,000. Russell Investments Group Ltd. bought a new position in Paratek Pharmaceuticals during the first quarter worth $211,000. Finally, American International Group Inc. increased its position in Paratek Pharmaceuticals by 34.1% in the first quarter. American International Group Inc. now owns 11,111 shares of the specialty pharmaceutical company’s stock worth $214,000 after buying an additional 2,824 shares during the period. 77.36% of the stock is currently owned by institutional investors and hedge funds.
About Paratek Pharmaceuticals
Paratek Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics based upon tetracycline chemistry. Its product candidates are the antibacterials omadacycline and sarecycline. Omadacycline is an antibiotic being developed for use as an empiric monotherapy option for patients suffering from serious, community-acquired bacterial infections.
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