Paratek Pharmaceuticals Inc. (PRTK) Trading Down 2.1%
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK)’s share price was down 2.1% during mid-day trading on Monday . The company traded as low as $13.05 and last traded at $13.10, with a volume of 56,570 shares changing hands. The stock had previously closed at $13.38.
A number of equities analysts recently issued reports on PRTK shares. BTIG Research restated a “buy” rating and set a $45.00 price objective on shares of Paratek Pharmaceuticals in a report on Friday, June 17th. HC Wainwright lifted their target price on Paratek Pharmaceuticals from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, June 17th. Robert W. Baird reaffirmed an “outperform” rating and set a $40.00 target price (up from $30.00) on shares of Paratek Pharmaceuticals in a research report on Friday, June 17th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Paratek Pharmaceuticals in a research report on Wednesday, April 6th. Finally, Zacks Investment Research lowered Paratek Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 22nd. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.67.
The company has a 50-day moving average of $14.65 and a 200-day moving average of $14.86. The company’s market capitalization is $226.54 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last posted its quarterly earnings results 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 other Paratek Pharmaceuticals news, major shareholder Fund Iv L.P. Omega acquired 461,538 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was bought at an average cost of $13.00 per share, for a total transaction of $5,999,994.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Bigham acquired 20,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The stock was acquired at an average price of $13.45 per share, with a total value of $269,000.00. Following the completion of the transaction, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $1,345,000. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Paratek Pharmaceuticals stock. Turner Investments L.P. raised its stake in Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) by 16.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.35% of Paratek Pharmaceuticals worth $1,165,000 as of its most recent SEC filing.
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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