Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) - Analysts at Wedbush reduced their Q3 2017 earnings estimates for shares of Paratek Pharmaceuticals in a research report issued to clients and investors on Thursday. Wedbush analyst R. Driscoll now forecasts that the specialty pharmaceutical company will post earnings of ($0.87) per share for the quarter, down from their previous estimate of ($0.86). Wedbush also issued estimates for Paratek Pharmaceuticals’ FY2017 earnings at ($3.34) EPS, Q2 2018 earnings at ($0.89) EPS, Q3 2018 earnings at ($0.48) EPS, Q4 2018 earnings at ($0.73) EPS, FY2018 earnings at ($2.96) EPS, FY2019 earnings at ($2.46) EPS, FY2020 earnings at ($2.52) EPS and FY2021 earnings at ($1.73) EPS.
Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. HC Wainwright raised their price target 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 report on Monday, July 17th. Zacks Investment Research upgraded shares of Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Thursday, April 20th. Finally, Raymond James Financial, Inc. began coverage on shares of Paratek Pharmaceuticals in a report on Thursday, May 18th. They set a “strong-buy” rating and a $36.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.44.
Paratek Pharmaceuticals (PRTK) opened at 21.55 on Monday. Paratek Pharmaceuticals has a 12 month low of $9.80 and a 12 month high of $26.10. The company’s 50-day moving average is $22.99 and its 200 day moving average is $19.72. The firm’s market cap is $594.78 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its quarterly earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.89) by $0.25. The company had revenue of $7.51 million for the quarter, compared to analyst estimates of $7.50 million.
In related news, CFO Douglas W. Pagan sold 4,595 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were 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 directly owns 51,000 shares in the company, valued at $1,275,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Michael Bigham sold 5,075 shares of the firm’s 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 $119,668.50. Following the sale, the chairman now owns 109,500 shares of the company’s stock, valued at $2,582,010. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,960 shares of company stock valued at $524,342. 4.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in shares of Paratek Pharmaceuticals during the first quarter valued at $630,000. Nine Chapters Capital Management LLC acquired a new position in shares of Paratek Pharmaceuticals during the first quarter valued at $258,000. Bank of New York Mellon Corp raised its position 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 valued at $1,618,000 after buying an additional 12,505 shares during the last quarter. Falcon Point Capital LLC acquired a new position in shares of Paratek Pharmaceuticals during the first quarter valued at $200,000. Finally, C WorldWide Group Holding A S acquired a new position in shares of Paratek Pharmaceuticals during the first quarter valued at $1,540,000. 77.36% of the stock is currently owned by hedge funds and other 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.
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