Paratek Pharmaceuticals Inc. (PRTK) Trading 6.2% Higher
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK)’s share price traded up 6.2% during trading on Tuesday . The stock traded as high as $14.22 and last traded at $14.04, with a volume of 206,950 shares changing hands. The stock had previously closed at $13.22.
Several equities analysts have commented on the stock. Robert W. Baird reissued an “outperform” rating and set a $40.00 target price (up previously from $30.00) on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. BTIG Research restated a “buy” rating and set a $45.00 price objective on shares of Paratek Pharmaceuticals in a research report on Friday, June 17th. Cantor Fitzgerald restated a “buy” rating and set a $30.00 price objective (up previously from $27.00) on shares of Paratek Pharmaceuticals in a research report on Friday, June 17th. Ladenburg Thalmann raised their price objective on shares of Paratek Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, June 17th. Finally, HC Wainwright raised their price objective on shares of Paratek Pharmaceuticals from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, June 17th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Paratek Pharmaceuticals has an average rating of “Buy” and a consensus price target of $35.67.
The stock’s market capitalization is $245.70 million. The company has a 50-day moving average of $14.96 and a 200 day moving average of $15.03.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings data on Monday, May 2nd. The specialty pharmaceutical company reported ($1.77) EPS for the quarter, missing the consensus estimate of ($1.25) by $0.52.
In related news, major shareholder Fund Iv L.P. Omega acquired 461,538 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was bought at an average price of $13.00 per share, with a total value of $5,999,994.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Bigham acquired 20,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was bought at an average cost of $13.45 per share, with a total value of $269,000.00. Following the acquisition, the chief executive officer now owns 100,000 shares in the company, valued at approximately $1,345,000. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Paratek Pharmaceuticals stock. Turner Investments L.P. boosted its stake in Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) by 16.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 61,430 shares of the specialty pharmaceutical company’s stock after buying an additional 8,710 shares during the period. Turner Investments L.P. owned 0.35% of Paratek Pharmaceuticals worth $1,165,000 at the end of the most recent quarter.
Paratek Pharmaceuticals, Inc (Paratek), formerly Transcept Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of antibacterial therapeutics based upon tetracycline chemistry. Paratek’s antibacterial product candidates are omadacycline and sarecycline. Omadacycline is a broad-spectrum antibiotic for use as an empiric monotherapy for community-acquired bacterial infections, such as acute bacterial skin and skin structure infections (ABSSSI), community-acquired bacterial pneumonia (CABP) and urinary tract infections (UTI).
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