Paratek Pharmaceuticals Inc. (PRTK) Sees Strong Trading Volume
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) shares saw an uptick in trading volume on Friday . 926,537 shares were traded 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.
Several brokerages have recently commented on PRTK. Cantor Fitzgerald restated a “buy” rating and set a $30.00 price target (up previously from $27.00) on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. Ladenburg Thalmann increased their price target on shares of Paratek Pharmaceuticals from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, June 17th. Zacks Investment Research lowered shares of Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Robert W. Baird restated an “outperform” rating and set a $40.00 price target (up previously from $30.00) on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. Finally, HC Wainwright increased their price target on shares of Paratek Pharmaceuticals from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, June 17th. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. Paratek Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $35.88.
The stock’s 50-day moving average price is $13.87 and its 200-day moving average price is $14.63. The stock’s market cap is $228.31 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its quarterly earnings data on Monday, May 2nd. The specialty pharmaceutical company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.25) by $0.52.
In other Paratek Pharmaceuticals news, CEO Michael Bigham bought 20,000 shares of the stock in a transaction dated Thursday, June 23rd. The shares were bought at an average cost of $13.45 per share, for a total transaction of $269,000.00. Following the purchase, the chief executive officer now directly owns 100,000 shares of the company’s stock, valued at approximately $1,345,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Fund Iv L.P. Omega bought 461,538 shares of the stock in a transaction dated Monday, June 27th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $5,999,994.00. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Paratek Pharmaceuticals stock. Turner Investments L.P. raised its position 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 about 0.35% of Paratek Pharmaceuticals worth $1,165,000 as of its most recent filing with the SEC.
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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