Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) – Wedbush cut their Q3 2017 earnings per share (EPS) estimates for Paratek Pharmaceuticals in a research note issued to investors on Thursday. Wedbush analyst R. Driscoll now expects that the specialty pharmaceutical company will earn ($0.87) per share for the quarter, down from their prior 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.

Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.25. The business had revenue of $7.51 million during the quarter, compared to analysts’ expectations of $7.50 million. TRADEMARK VIOLATION NOTICE: “Paratek Pharmaceuticals, Inc. to Post Q3 2017 Earnings of ($0.87) Per Share, Wedbush Forecasts (NASDAQ:PRTK)” was originally published by American Banking News and is owned by of American Banking News. If you are reading this article on another website, it was stolen and republished in violation of US & international trademark & copyright legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/08/07/paratek-pharmaceuticals-inc-to-post-q3-2017-earnings-of-0-87-per-share-wedbush-forecasts-nasdaqprtk.html.

PRTK has been the topic of several other research reports. Zacks Investment Research upgraded shares of Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, April 20th. HC Wainwright raised their price target on shares of Paratek Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research note 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 note on Monday, April 24th. BidaskClub lowered shares of Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Paratek Pharmaceuticals in a research note on Thursday, May 18th. They issued a “strong-buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.44.

Shares of Paratek Pharmaceuticals (NASDAQ:PRTK) opened at 19.50 on Monday. The stock’s market cap is $538.20 million. Paratek Pharmaceuticals has a one year low of $9.80 and a one year high of $26.10. The firm has a 50-day moving average price of $22.99 and a 200-day moving average price of $19.72.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Paratek Pharmaceuticals by 9.5% in the first quarter. Vanguard Group Inc. now owns 724,300 shares of the specialty pharmaceutical company’s stock valued at $13,942,000 after buying an additional 63,121 shares during the period. C WorldWide Group Holding A S boosted its position in Paratek Pharmaceuticals by 449.3% in the second quarter. C WorldWide Group Holding A S now owns 439,400 shares of the specialty pharmaceutical company’s stock valued at $10,590,000 after buying an additional 359,400 shares during the period. Renaissance Technologies LLC boosted its position in Paratek Pharmaceuticals by 275.9% in the first quarter. Renaissance Technologies LLC now owns 414,513 shares of the specialty pharmaceutical company’s stock valued at $7,979,000 after buying an additional 304,249 shares during the period. Pictet Asset Management Ltd. bought a new position in Paratek Pharmaceuticals during the second quarter valued at about $6,957,000. Finally, General American Investors Co. Inc. boosted its position in Paratek Pharmaceuticals by 16.7% in the first quarter. General American Investors Co. Inc. now owns 307,213 shares of the specialty pharmaceutical company’s stock valued at $5,914,000 after buying an additional 44,037 shares during the period. Institutional investors and hedge funds own 75.86% of the company’s stock.

In other news, VP Adam Woodrow sold 3,800 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total value of $89,604.00. Following the completion of the transaction, the vice president now directly owns 69,500 shares in the company, valued at $1,638,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Douglas W. Pagan sold 4,595 shares of the 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 transaction, the chief financial officer now owns 51,000 shares of the company’s stock, valued at $1,275,000. The disclosure for this sale can be found here. Insiders sold 21,960 shares of company stock valued at $524,342 over the last quarter. Insiders own 4.90% of the company’s stock.

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.

Earnings History and Estimates for Paratek Pharmaceuticals (NASDAQ:PRTK)

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