Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) Rating Lowered 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 Tuesday.
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. “
A number of other brokerages have also commented on PRTK. HC Wainwright upped their price target on shares of Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald set a $50.00 price target on shares of Paratek Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, July 17th. Raymond James Financial, Inc. assumed 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. Finally, BidaskClub lowered shares of Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Paratek Pharmaceuticals has an average rating of “Buy” and an average target price of $37.44.
Shares of Paratek Pharmaceuticals (NASDAQ PRTK) opened at 21.55 on Tuesday. The company’s 50-day moving average price is $22.99 and its 200-day moving average price is $19.72. The firm’s market capitalization is $594.78 million. Paratek Pharmaceuticals has a 52-week low of $9.80 and a 52-week high of $26.10.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.25. The company had revenue of $7.51 million during the quarter, compared to analyst estimates of $7.50 million.
In other Paratek Pharmaceuticals news, Chairman Michael Bigham sold 5,075 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 transaction of $119,668.50. Following the transaction, the chairman now owns 109,500 shares in the company, valued at approximately $2,582,010. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Adam Woodrow sold 3,800 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total transaction of $89,604.00. Following the transaction, the vice president now owns 69,500 shares in the company, valued at approximately $1,638,810. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,960 shares of company stock worth $524,342. Company insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its position in shares of Paratek Pharmaceuticals by 113.3% in the second quarter. Royce & Associates LP now owns 282,900 shares of the specialty pharmaceutical company’s stock worth $6,818,000 after buying an additional 150,300 shares during the last quarter. Cadence Capital Management LLC acquired a new position in shares of Paratek Pharmaceuticals during the second quarter worth about $562,000. Columbus Circle Investors acquired a new position in shares of Paratek Pharmaceuticals during the second quarter worth about $480,000. Marshall Wace LLP acquired a new position in shares of Paratek Pharmaceuticals during the second quarter worth about $942,000. Finally, Rainier Investment Management LLC raised its position in shares of Paratek Pharmaceuticals by 8.4% in the second quarter. Rainier Investment Management LLC now owns 85,790 shares of the specialty pharmaceutical company’s stock worth $2,068,000 after buying an additional 6,620 shares during the last quarter. Hedge funds and other institutional investors own 77.36% 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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