Cantor Fitzgerald Reaffirms “Overweight” Rating for Paratek Pharmaceuticals, Inc. (PRTK)
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a research note issued on Thursday. They presently have a $50.00 target price on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 107.47% from the stock’s current price.
PRTK has been the subject of several other reports. BTIG Research lifted their price target on Paratek Pharmaceuticals from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. HC Wainwright lifted their price target on Paratek Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Guggenheim set a $38.00 price target on Paratek Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research upgraded Paratek Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st. Finally, Robert W. Baird restated an “outperform” rating and set a $40.00 target price on shares of Paratek Pharmaceuticals in a research report on Tuesday, April 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Paratek Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $37.00.
Paratek Pharmaceuticals (PRTK) traded up 2.34% during mid-day trading on Thursday, hitting $24.10. The stock had a trading volume of 834,245 shares. The company’s 50 day moving average is $21.75 and its 200-day moving average is $17.94. The stock’s market capitalization is $662.39 million. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $25.05.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings results on Thursday, May 4th. The specialty pharmaceutical company reported ($1.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.20) by $0.06. The company had revenue of $0.02 million during the quarter.
In related news, CFO Douglas W. Pagan sold 4,595 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,275,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.90% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in Paratek Pharmaceuticals during the fourth quarter valued at approximately $158,000. Ellington Management Group LLC acquired a new position in Paratek Pharmaceuticals during the fourth quarter valued at approximately $179,000. Falcon Point Capital LLC acquired a new position in Paratek Pharmaceuticals during the first quarter valued at approximately $200,000. Russell Investments Group Ltd. acquired a new position in Paratek Pharmaceuticals during the first quarter valued at approximately $211,000. Finally, American International Group Inc. boosted its position in 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. Institutional investors and hedge funds own 75.99% of the company’s stock.
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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