Paratek Pharmaceuticals, Inc. (PRTK) Lifted to Hold at Zacks Investment Research
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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. “
Several other equities research analysts have also commented on PRTK. BidaskClub upgraded Paratek Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Robert W. Baird reiterated a “buy” rating and issued a $40.00 price target on shares of Paratek Pharmaceuticals in a report on Tuesday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Paratek Pharmaceuticals in a report on Tuesday, August 8th. ValuEngine lowered Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Finally, Raymond James Financial, Inc. reiterated a “strong-buy” rating and issued a $36.00 price target on shares of Paratek Pharmaceuticals in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Paratek Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $38.11.
Shares of Paratek Pharmaceuticals (NASDAQ:PRTK) opened at 21.40 on Wednesday. The firm’s market cap is $594.09 million. The stock’s 50 day moving average price is $24.16 and its 200-day moving average price is $22.89. Paratek Pharmaceuticals has a 52-week low of $9.80 and a 52-week high of $29.00.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) EPS for the quarter, beating the consensus estimate 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.
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A number of large investors have recently made changes to their positions in PRTK. C WorldWide Group Holding A S boosted its holdings 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 worth $10,590,000 after acquiring an additional 359,400 shares in the last quarter. Pictet Asset Management Ltd. bought a new position in Paratek Pharmaceuticals in the second quarter worth approximately $6,957,000. State Street Corp boosted its holdings in Paratek Pharmaceuticals by 112.3% in the second 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 in the last quarter. Renaissance Technologies LLC boosted its holdings 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 worth $7,979,000 after acquiring an additional 304,249 shares in the last quarter. Finally, Numeric Investors LLC bought a new position in Paratek Pharmaceuticals in the second quarter worth approximately $6,449,000. Institutional investors and hedge funds own 80.59% 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.
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