Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) Given a $50.00 Price Target at Cantor Fitzgerald

Cantor Fitzgerald set a $50.00 target price on Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) in a research note released on Monday, July 17th. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.

“OASIS-2 study met all of its primary and secondary endpoints required to support approval for this indication by the FDA and EMA. This represents the third positive Phase 3 registration study of omadacycline (the other two were skin and pneumonia).”,” Cantor Fitzgerald’s analyst wrote.

A number of other research analysts also recently weighed in on the company. Raymond James Financial, Inc. began coverage on Paratek Pharmaceuticals in a research note on Thursday, May 18th. They issued a strong-buy rating and a $36.00 price objective on the stock. Zacks Investment Research downgraded Paratek Pharmaceuticals from a buy rating to a hold rating in a research note on Friday, April 21st. HC Wainwright raised their price objective on Paratek Pharmaceuticals from $33.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, April 11th. Guggenheim set a $38.00 price objective on Paratek Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, April 4th. Finally, BTIG Research raised their price objective on Paratek Pharmaceuticals from $47.00 to $56.00 and gave the company a buy rating in a research note on Tuesday, April 4th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Paratek Pharmaceuticals presently has an average rating of Buy and a consensus price target of $37.44.

Paratek Pharmaceuticals (NASDAQ PRTK) opened at 19.50 on Monday. The stock’s market cap is $538.20 million. The firm has a 50-day moving average price of $22.99 and a 200-day moving average price of $19.72. Paratek Pharmaceuticals has a 12-month low of $9.80 and a 12-month high of $26.10.

Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, beating 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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In other news, VP Adam Woodrow sold 3,800 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total transaction of $89,604.00. Following the sale, the vice president now owns 69,500 shares of the company’s stock, valued at approximately $1,638,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Evan Loh sold 4,351 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $102,596.58. Following the sale, the chief operating officer now directly owns 112,783 shares in the company, valued at approximately $2,659,423.14. The disclosure for this sale can be found here. Insiders sold a total of 21,960 shares of company stock worth $524,342 in the last ninety days. Insiders own 4.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of 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 valued at $144,000 after buying an additional 687 shares during the last quarter. Falcon Point Capital LLC purchased a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at $200,000. Fox Run Management L.L.C. purchased a new stake in shares of Paratek Pharmaceuticals during the second quarter valued at $200,000. Russell Investments Group Ltd. purchased a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at $211,000. Finally, American International Group Inc. raised its stake in shares of 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 valued at $214,000 after buying an additional 2,824 shares during the last quarter. 75.86% of the stock is currently owned by institutional investors.

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.