Paratek Pharmaceuticals, Inc. (PRTK) Given Consensus Rating of “Buy” by Analysts
Shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) have received a consensus recommendation of “Buy” from the eleven analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $40.25.
PRTK has been the subject of a number of research reports. BidaskClub raised shares of Paratek Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Cantor Fitzgerald reissued a “buy” rating and issued a $50.00 price target on shares of Paratek Pharmaceuticals in a report on Wednesday, August 23rd. HC Wainwright increased their price target on shares of Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Zacks Investment Research raised shares of Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Saturday, August 5th. Finally, Guggenheim initiated coverage on shares of Paratek Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $44.00 price target for the company.
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Paratek Pharmaceuticals (PRTK) opened at 22.40 on Wednesday. The stock has a 50 day moving average price of $24.93 and a 200 day moving average price of $22.92. Paratek Pharmaceuticals has a one year low of $9.80 and a one year high of $29.00. The firm’s market cap is $621.85 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its quarterly earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.25. The company had revenue of $7.51 million during the quarter, compared to the consensus estimate of $7.50 million.
Several large investors have recently added to or reduced their stakes in PRTK. C WorldWide Group Holding A S lifted its holdings in shares of Paratek Pharmaceuticals by 449.3% during the 2nd quarter. C WorldWide Group Holding A S now owns 439,400 shares of the specialty pharmaceutical company’s stock worth $10,590,000 after acquiring an additional 359,400 shares during the period. Pictet Asset Management Ltd. bought a new position in shares of Paratek Pharmaceuticals during the 2nd quarter worth about $6,957,000. State Street Corp lifted its holdings in shares of Paratek Pharmaceuticals by 112.3% during the 2nd quarter. State Street Corp now owns 616,112 shares of the specialty pharmaceutical company’s stock worth $14,850,000 after acquiring an additional 325,856 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Paratek Pharmaceuticals by 275.9% during the 1st quarter. Renaissance Technologies LLC now owns 414,513 shares of the specialty pharmaceutical company’s stock worth $7,979,000 after acquiring an additional 304,249 shares during the period. Finally, Numeric Investors LLC bought a new position in shares of Paratek Pharmaceuticals during the 2nd quarter worth about $6,449,000. 80.52% of the stock is owned by institutional investors.
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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