Paratek Pharmaceuticals, Inc. (PRTK) Cut to Sell at ValuEngine
ValuEngine lowered shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) from a hold rating to a sell rating in a research note released on Monday morning.
PRTK has been the subject of a number of other reports. Cantor Fitzgerald reiterated an overweight rating and set a $50.00 price objective on shares of Paratek Pharmaceuticals in a report on Thursday, June 22nd. HC Wainwright lifted their target price on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a buy rating in a research note on Tuesday, July 18th. BidaskClub downgraded Paratek Pharmaceuticals from a strong-buy rating to a buy rating in a research note on Monday, July 24th. Zacks Investment Research upgraded Paratek Pharmaceuticals from a hold rating to a buy rating and set a $21.00 target price for the company in a research note on Saturday, August 5th. Finally, Raymond James Financial, Inc. reiterated a strong-buy rating and set a $36.00 target price on shares of Paratek Pharmaceuticals in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $37.44.
Shares of Paratek Pharmaceuticals (PRTK) opened at 24.50 on Monday. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $29.00. The company’s market capitalization is $680.14 million. The company’s 50 day moving average is $23.26 and its 200-day moving average is $21.71.
Paratek Pharmaceuticals (NASDAQ:PRTK) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $7.50 million.
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In related news, Chairman Michael Bigham sold 5,075 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $119,668.50. Following the sale, the chairman now owns 109,500 shares in the company, valued at $2,582,010. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas W. Pagan sold 4,139 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $97,597.62. Following the completion of the sale, the chief financial officer now owns 60,000 shares in the company, valued at approximately $1,414,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,365 shares of company stock valued at $409,467. 4.90% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRTK. C WorldWide Group Holding A S raised its position in Paratek Pharmaceuticals by 449.3% during the second quarter. C WorldWide Group Holding A S now owns 439,400 shares of the specialty pharmaceutical company’s stock valued at $10,590,000 after purchasing an additional 359,400 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in shares of Paratek Pharmaceuticals during the second quarter valued at about $6,957,000. State Street Corp grew its stake in shares of Paratek Pharmaceuticals by 112.3% during the second quarter. State Street Corp now owns 616,112 shares of the specialty pharmaceutical company’s stock valued at $14,850,000 after buying an additional 325,856 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Paratek Pharmaceuticals by 275.9% during the first quarter. Renaissance Technologies LLC now owns 414,513 shares of the specialty pharmaceutical company’s stock valued at $7,979,000 after buying an additional 304,249 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in shares of Paratek Pharmaceuticals during the second quarter valued at about $6,449,000. Institutional investors and hedge funds own 82.33% 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.
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