Paratek Pharmaceuticals Inc. (PRTK) Sees Unusually-High Trading Volume
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) shares saw unusually-high trading volume on Friday . Approximately 926,537 shares changed hands during trading, an increase of 183% from the previous session’s volume of 327,664 shares.The stock last traded at $12.87 and had previously closed at $12.98.
PRTK has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Paratek Pharmaceuticals in a research note on Wednesday, April 6th. Zacks Investment Research downgraded Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Robert W. Baird initiated coverage on Paratek Pharmaceuticals in a research note on Friday, May 13th. They set an “outperform” rating and a $30.00 target price for the company. Leerink Swann reaffirmed a “buy” rating and set a $35.00 target price on shares of Paratek Pharmaceuticals in a research note on Sunday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Paratek Pharmaceuticals in a research note on Monday, May 16th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Paratek Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $35.88.
The stock’s market capitalization is $228.31 million. The company’s 50-day moving average is $13.87 and its 200-day moving average is $14.63.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings results on Monday, May 2nd. The specialty pharmaceutical company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.25) by $0.52.
In related news, major shareholder Fund Iv L.P. Omega bought 461,538 shares of the stock in a transaction on Monday, June 27th. The shares were 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 document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Bigham bought 20,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was bought at an average price of $13.45 per share, for a total transaction of $269,000.00. Following the completion of the purchase, the chief executive officer now directly 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. increased its stake in shares of Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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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