Zacks Investment Research Upgrades Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) to Buy
Zacks Investment Research upgraded shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) from a hold rating to a buy rating in a research note published on Saturday, August 5th. They currently have $21.00 price target on the specialty pharmaceutical company’s stock.
According to Zacks, “Paratek Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of therapeutics that treat infectious disease agents. The Company’s lead product candidate, omadacycline, is a tetracycline-derived antibiotic being developed for use as a first-line monotherapy for serious community-acquired bacterial infections where antibiotic resistance is of concern for treating physicians. Its second product candidate, WC 3035 is a tetracycline-derived compound designed for use in the treatment of acne and rosacea. Paratek Pharmaceuticals, Inc., formerly known as Transcept Pharmaceuticals, Inc., is based in United States. “
A number of other research firms also recently weighed in on PRTK. HC Wainwright boosted their target price on shares of Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a buy rating in a report on Tuesday, July 18th. Cantor Fitzgerald set a $50.00 price target on shares of Paratek Pharmaceuticals and gave the stock a buy rating in a research note on Monday, July 17th. Raymond James Financial, Inc. started coverage on shares of Paratek Pharmaceuticals in a research note on Thursday, May 18th. They set a strong-buy rating and a $36.00 price target for the company. Finally, BidaskClub cut shares of Paratek Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Monday, July 24th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $37.44.
Paratek Pharmaceuticals (NASDAQ PRTK) traded down 1.27% during midday trading on Friday, reaching $19.45. The company had a trading volume of 245,891 shares. The stock has a 50-day moving average price of $21.72 and a 200 day moving average price of $20.15. Paratek Pharmaceuticals has a 12-month low of $9.80 and a 12-month high of $26.10. The company’s market capitalization is $539.95 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.25. The company had revenue of $7.51 million during the quarter, compared to the consensus estimate of $7.50 million.
TRADEMARK VIOLATION WARNING: This piece was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/19/paratek-pharmaceuticals-inc-nasdaqprtk-lifted-to-buy-at-zacks-investment-research-updated.html.
In other Paratek Pharmaceuticals news, VP Adam Woodrow sold 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total transaction of $89,604.00. Following the transaction, the vice president now owns 69,500 shares in the company, valued at approximately $1,638,810. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas W. Pagan sold 4,595 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $25.00, for a total transaction of $114,875.00. Following the completion of the sale, the chief financial officer now owns 51,000 shares in the company, valued at approximately $1,275,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,960 shares of company stock valued at $524,342. 4.90% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Paratek Pharmaceuticals by 21.5% in the fourth quarter. State Street Corp now owns 238,092 shares of the specialty pharmaceutical company’s stock worth $3,668,000 after buying an additional 42,117 shares during the last quarter. Essex Investment Management Co. LLC increased its stake in shares of Paratek Pharmaceuticals by 15.6% in the first quarter. Essex Investment Management Co. LLC now owns 51,426 shares of the specialty pharmaceutical company’s stock worth $990,000 after buying an additional 6,939 shares during the period. Appleton Partners Inc. MA purchased a new stake in shares of Paratek Pharmaceuticals during the second quarter worth about $220,000. Bank of New York Mellon Corp increased its stake in shares of Paratek Pharmaceuticals by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 84,045 shares of the specialty pharmaceutical company’s stock worth $1,618,000 after buying an additional 12,505 shares during the period. Finally, Norges Bank purchased a new stake in shares of Paratek Pharmaceuticals during the fourth quarter worth about $1,486,000. Hedge funds and other institutional investors own 77.96% of the company’s stock.
Paratek Pharmaceuticals Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Paratek Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paratek Pharmaceuticals Inc. and related stocks with our FREE daily email newsletter.