Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.
PRTK has been the subject of several other reports. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 price objective on shares of Paratek Pharmaceuticals in a research note on Thursday, June 22nd. 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 for the company. HC Wainwright upped their price objective on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, Zacks Investment Research upgraded Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Saturday, August 5th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.44.
Paratek Pharmaceuticals (NASDAQ:PRTK) opened at 19.05 on Wednesday. The stock’s 50 day moving average price is $21.57 and its 200 day moving average price is $20.25. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $26.10. The company’s market capitalization is $528.85 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.25. The company had revenue of $7.51 million for the quarter, compared to analysts’ expectations of $7.50 million.
TRADEMARK VIOLATION WARNING: This story was first posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://stocknewstimes.com/2017/08/23/paratek-pharmaceuticals-inc-prtk-downgraded-by-bidaskclub-to-hold.html.
In related news, Chairman Michael Bigham sold 5,075 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total value of $119,668.50. Following the completion of the transaction, the chairman now owns 109,500 shares of the company’s stock, valued at approximately $2,582,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Douglas W. Pagan sold 4,595 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $25.00, for a total transaction of $114,875.00. Following the completion of the transaction, the chief financial officer now directly owns 51,000 shares of the company’s stock, valued at approximately $1,275,000. The disclosure for this sale can be found here. Insiders sold a total of 21,960 shares of company stock valued at $524,342 over the last 90 days. 4.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of PRTK. Legal & General Group Plc increased its position 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 in the last quarter. Quantbot Technologies LP purchased a new position in shares of Paratek Pharmaceuticals during the second quarter valued at $172,000. Citigroup Inc. increased its position in shares of Paratek Pharmaceuticals by 19,470.0% in the second quarter. Citigroup Inc. now owns 7,828 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 7,788 shares in the last quarter. Falcon Point Capital LLC purchased a new position in shares of Paratek Pharmaceuticals during the first quarter valued at $200,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Paratek Pharmaceuticals during the second quarter valued at $200,000. 77.96% of the stock is owned by institutional investors.
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.
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.
