Paratek Pharmaceuticals Inc. (PRTK) Trading 5% Higher
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) shares traded up 5% during mid-day trading on Wednesday . The stock traded as high as $14.10 and last traded at $13.98, with a volume of 185,783 shares trading hands. The stock had previously closed at $13.32.
Several research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $30.00 target price (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 company a “buy” rating in a research report on Friday, June 17th. Zacks Investment Research downgraded shares of Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price target (up from $30.00) on shares of Paratek Pharmaceuticals in a research report on Friday, June 17th. Finally, HC Wainwright reiterated a “buy” rating on shares of Paratek Pharmaceuticals in a research report on Tuesday, August 16th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. Paratek Pharmaceuticals has an average rating of “Buy” and an average price target of $35.88.
The company’s market cap is $302.07 million. The company has a 50 day moving average of $13.07 and a 200 day moving average of $14.32.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($1.69) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by $0.03.
In other Paratek Pharmaceuticals news, CEO Michael Bigham bought 20,000 shares of the stock in a transaction on Thursday, June 23rd. The stock was purchased at an average price of $13.45 per share, with a total value of $269,000.00. Following the completion of the purchase, the chief executive officer now owns 100,000 shares in the company, valued at $1,345,000. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Fund Iv L.P. Omega bought 461,538 shares of the stock in a transaction on Monday, June 27th. The shares were acquired at an average cost of $13.00 per share, with a total value of $5,999,994.00. The disclosure for this purchase can be found here.
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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