Zacks Investment Research Downgrades Paratek Pharmaceuticals, Inc. (PRTK) to Sell
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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 equities analysts have also recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Paratek Pharmaceuticals in a report on Thursday, June 22nd. HC Wainwright raised their target price on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. BidaskClub cut Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and issued a $36.00 target price on shares of Paratek Pharmaceuticals in a report on Thursday, August 24th. Finally, ValuEngine cut Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.44.
Paratek Pharmaceuticals (NASDAQ PRTK) opened at 24.95 on Wednesday. Paratek Pharmaceuticals has a 12 month low of $9.80 and a 12 month high of $29.00. The stock has a 50 day moving average price of $25.38 and a 200 day moving average price of $22.66. The stock’s market capitalization is $692.64 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) EPS for the quarter, topping the Zacks’ consensus estimate 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.
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A number of large investors have recently bought and sold shares of PRTK. Legal & General Group Plc raised its holdings in Paratek Pharmaceuticals by 13.3% during the second quarter. Legal & General Group Plc now owns 5,865 shares of the specialty pharmaceutical company’s stock valued at $144,000 after acquiring an additional 687 shares during the period. Quantbot Technologies LP bought a new stake in Paratek Pharmaceuticals during the second quarter valued at about $172,000. Citigroup Inc. raised its holdings in Paratek Pharmaceuticals by 19,470.0% during the second quarter. Citigroup Inc. now owns 7,828 shares of the specialty pharmaceutical company’s stock valued at $189,000 after acquiring an additional 7,788 shares during the period. Fox Run Management L.L.C. bought a new stake in Paratek Pharmaceuticals during the second quarter valued at about $200,000. Finally, Russell Investments Group Ltd. bought a new stake in Paratek Pharmaceuticals during the first quarter valued at about $211,000. 82.37% 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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