Zacks Investment Research upgraded shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) from a hold rating to a buy rating in a research report report published on Saturday, August 5th. They currently have $21.00 target price 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. “
Several other analysts have also issued reports on PRTK. HC Wainwright raised their price target on shares of Paratek Pharmaceuticals from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, April 11th. Cantor Fitzgerald restated a buy rating and issued a $32.00 price target on shares of Paratek Pharmaceuticals in a research report on Monday, April 24th. Raymond James Financial, Inc. started coverage on shares of Paratek Pharmaceuticals in a research report on Thursday, May 18th. They issued a strong-buy rating and a $36.00 price target on the stock. Finally, BidaskClub lowered shares of Paratek Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Monday, July 24th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $37.44.
Shares of Paratek Pharmaceuticals (NASDAQ:PRTK) traded down 1.27% during mid-day trading on Friday, hitting $19.45. 245,891 shares of the stock traded hands. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $26.10. The company’s market cap is $539.95 million. The stock has a 50-day moving average of $21.72 and a 200-day moving average of $20.15.
Paratek Pharmaceuticals (NASDAQ:PRTK) last posted its 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 firm had revenue of $7.51 million during the quarter, compared to analyst estimates of $7.50 million.
TRADEMARK VIOLATION WARNING: This report was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://stocknewstimes.com/2017/08/19/paratek-pharmaceuticals-inc-prtk-stock-rating-upgraded-by-zacks-investment-research-updated.html.
In related news, COO Evan Loh sold 4,351 shares of Paratek Pharmaceuticals stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total transaction of $102,596.58. Following the completion of the transaction, the chief operating officer now directly owns 112,783 shares of the company’s stock, valued at approximately $2,659,423.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Adam Woodrow sold 3,800 shares of Paratek Pharmaceuticals stock in a transaction dated 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 directly owns 69,500 shares of the company’s stock, valued at $1,638,810. The disclosure for this sale can be found here. Insiders have sold a total of 21,960 shares of company stock valued at $524,342 over the last ninety days. 4.90% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in shares of Paratek Pharmaceuticals during the first quarter valued at about $630,000. Nine Chapters Capital Management LLC purchased a new position in shares of Paratek Pharmaceuticals during the first quarter valued at about $258,000. Bank of New York Mellon Corp increased 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 in the last quarter. Falcon Point Capital LLC purchased a new position in shares of Paratek Pharmaceuticals during the first quarter valued at about $200,000. Finally, C WorldWide Group Holding A S purchased a new position in shares of Paratek Pharmaceuticals during the first quarter valued at about $1,540,000. 77.96% of the stock is 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.
Get a free copy of the Zacks research report on Paratek Pharmaceuticals (PRTK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.
