Zacks Investment Research Lowers Paratek Pharmaceuticals, Inc. (PRTK) to Sell
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
PRTK has been the topic of several other reports. HC Wainwright boosted their price objective on shares of Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald restated a “buy” rating and set a $50.00 price objective on shares of Paratek Pharmaceuticals in a research note on Wednesday, August 23rd. Raymond James Financial, Inc. restated a “strong-buy” rating and set a $36.00 price objective on shares of Paratek Pharmaceuticals in a research note on Thursday, August 24th. ValuEngine lowered shares of Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. 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 research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $37.44.
Paratek Pharmaceuticals (NASDAQ PRTK) traded down 0.20% during midday trading on Wednesday, reaching $24.90. 8,301 shares of the company’s stock were exchanged. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $29.00. The firm has a 50-day moving average price of $25.38 and a 200 day moving average price of $22.66. The company’s market cap is $691.25 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.25. The firm had revenue of $7.51 million for the quarter, compared to analyst estimates of $7.50 million.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in Paratek Pharmaceuticals by 13.3% in the 2nd quarter. Legal & General Group Plc now owns 5,865 shares of the specialty pharmaceutical company’s stock valued at $144,000 after buying an additional 687 shares during the last quarter. Quantbot Technologies LP acquired a new position in Paratek Pharmaceuticals in the 2nd quarter valued at about $172,000. Citigroup Inc. grew its stake in Paratek Pharmaceuticals by 19,470.0% in the 2nd quarter. Citigroup Inc. now owns 7,828 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 7,788 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Paratek Pharmaceuticals in the 2nd quarter valued at about $200,000. Finally, Russell Investments Group Ltd. acquired a new position in Paratek Pharmaceuticals in the 1st quarter valued at about $211,000. Institutional investors and hedge funds own 82.37% 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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