Paratek Pharmaceuticals Inc (PRTK) Downgraded to Hold at Zacks Investment Research
Paratek Pharmaceuticals Inc (NASDAQ:PRTK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
Other equities analysts have also issued reports about the stock. Wedbush reissued an “outperform” rating and issued a $30.00 target price on shares of Paratek Pharmaceuticals in a report on Monday, April 3rd. BTIG Research raised their target price on shares of Paratek Pharmaceuticals from $47.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, April 4th. Guggenheim set a $38.00 target price on shares of Paratek Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, April 4th. Robert W. Baird reissued an “outperform” rating and issued a $40.00 target price on shares of Paratek Pharmaceuticals in a report on Tuesday, April 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 target price on shares of Paratek Pharmaceuticals in a report on Friday, March 3rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Paratek Pharmaceuticals has a consensus rating of “Buy” and an average target price of $36.78.
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Paratek Pharmaceuticals (NASDAQ:PRTK) opened at 21.60 on Friday. Paratek Pharmaceuticals has a 12-month low of $9.80 and a 12-month high of $25.00. The company’s market cap is $524.58 million. The stock’s 50 day moving average is $18.64 and its 200 day moving average is $15.06.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its earnings results on Thursday, March 2nd. The specialty pharmaceutical company reported ($1.16) EPS for the quarter, beating the consensus estimate of ($1.33) by $0.17. The firm earned $0.03 million during the quarter.
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In related news, COO Evan Loh sold 3,106 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $15.09, for a total transaction of $46,869.54. Following the sale, the chief operating officer now directly owns 102,873 shares of the company’s stock, valued at approximately $1,552,353.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas W. Pagan sold 3,405 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $15.09, for a total transaction of $51,381.45. Following the sale, the chief financial officer now directly owns 58,983 shares in the company, valued at $890,053.47. The disclosure for this sale can be found here. Insiders have sold a total of 11,511 shares of company stock worth $173,701 over the last ninety days. 2.00% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in PRTK. Ellington Management Group LLC bought a new stake in shares of Paratek Pharmaceuticals during the fourth quarter valued at about $179,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Paratek Pharmaceuticals during the fourth quarter valued at about $158,000. Interwest Venture Management Co. bought a new stake in shares of Paratek Pharmaceuticals during the fourth quarter valued at about $7,890,000. Baird Financial Group Inc. bought a new stake in shares of Paratek Pharmaceuticals during the fourth quarter valued at about $216,000. Finally, State Street Corp raised its stake in shares of Paratek Pharmaceuticals by 21.5% in the fourth quarter. State Street Corp now owns 238,092 shares of the specialty pharmaceutical company’s stock valued at $3,668,000 after buying an additional 42,117 shares during the period. 76.06% of the stock is currently owned by institutional investors.
Paratek Pharmaceuticals Company Profile
Paratek Pharmaceuticals, Inc (Paratek), formerly Transcept Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of antibacterial therapeutics based upon tetracycline chemistry. Paratek’s antibacterial product candidates are omadacycline and sarecycline. Omadacycline is a broad-spectrum antibiotic for use as an empiric monotherapy for community-acquired bacterial infections, such as acute bacterial skin and skin structure infections (ABSSSI), community-acquired bacterial pneumonia (CABP) and urinary tract infections (UTI).
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