Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) Receives Consensus Recommendation of “Buy” from Analysts
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) has received a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $38.00.
A number of equities analysts have recently commented on the stock. BidaskClub raised shares of Paratek Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $50.00 price objective on shares of Paratek Pharmaceuticals in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Paratek Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James Financial, Inc. assumed coverage on shares of Paratek Pharmaceuticals in a report on Thursday, May 18th. They set a “strong-buy” rating and a $36.00 price objective for the company. Finally, HC Wainwright raised their price objective on shares of Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th.
In related news, Chairman Michael Bigham sold 5,075 shares of Paratek Pharmaceuticals stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total transaction of $119,668.50. Following the completion of the transaction, the chairman now directly 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 the SEC website. Also, CFO Douglas W. Pagan sold 4,595 shares of Paratek Pharmaceuticals stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $25.00, for a total transaction of $114,875.00. Following the transaction, the chief financial officer now directly owns 51,000 shares of the company’s stock, valued at $1,275,000. The disclosure for this sale can be found here. Insiders have sold a total of 21,960 shares of company stock valued at $524,342 over the last three months. 4.90% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new stake in Paratek Pharmaceuticals during the first quarter valued at $630,000. Nine Chapters Capital Management LLC bought a new stake in Paratek Pharmaceuticals during the first quarter valued at $258,000. Bank of New York Mellon Corp boosted its stake in Paratek Pharmaceuticals by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 84,045 shares of the specialty pharmaceutical company’s stock valued at $1,618,000 after buying an additional 12,505 shares during the last quarter. Falcon Point Capital LLC bought a new stake in Paratek Pharmaceuticals during the first quarter valued at $200,000. Finally, C WorldWide Group Holding A S bought a new stake in Paratek Pharmaceuticals during the first quarter valued at $1,540,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.
Paratek Pharmaceuticals (PRTK) opened at 19.65 on Friday. The firm has a 50-day moving average of $22.51 and a 200 day moving average of $19.91. The company’s market cap is $545.50 million. Paratek Pharmaceuticals has a 52-week low of $9.80 and a 52-week high of $26.10.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.25. The business had revenue of $7.51 million for the quarter, compared to the consensus estimate of $7.50 million.
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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