Paratek Pharmaceuticals Inc. (PRTK) Trading Down 3.2%
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) was down 3.2% during mid-day trading on Thursday . The company traded as low as $13.11 and last traded at $13.14, with a volume of 134,302 shares trading hands. The stock had previously closed at $13.57.
A number of equities research analysts have recently issued reports on PRTK shares. HC Wainwright reiterated a “buy” rating on shares of Paratek Pharmaceuticals in a research note on Monday, May 16th. Leerink Swann reiterated a “buy” rating and issued a $35.00 price objective on shares of Paratek Pharmaceuticals in a research note on Sunday, May 15th. Guggenheim reiterated a “buy” rating on shares of Paratek Pharmaceuticals in a research note on Tuesday, August 16th. BTIG Research reiterated a “buy” rating and issued a $45.00 price objective on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. Finally, Robert W. Baird started coverage on shares of Paratek Pharmaceuticals in a research note on Friday, May 13th. They issued an “outperform” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Paratek Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $35.88.
The company has a 50 day moving average of $13.08 and a 200-day moving average of $14.33. The firm’s market capitalization is $304.33 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.66) by $0.03.
In other news, major shareholder Fund Iv L.P. Omega acquired 461,538 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Monday, June 27th. The shares were acquired at an average price of $13.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Bigham acquired 20,000 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Thursday, June 23rd. The shares were purchased 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 in the company, valued at $1,345,000. 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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