Paratek Pharmaceuticals Inc. (PRTK) Trading Down 0.9%
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK)’s share price was down 0.9% during trading on Friday . The company traded as low as $13.08 and last traded at $13.29, with a volume of 109,648 shares traded. The stock had previously closed at $13.41.
Several equities research analysts recently commented on the company. Cantor Fitzgerald reiterated a “buy” rating on shares of Paratek Pharmaceuticals in a report on Wednesday, May 4th. Ladenburg Thalmann raised their target price on Paratek Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a report on Friday, June 17th. HC Wainwright raised their target price on Paratek Pharmaceuticals from $31.00 to $34.00 and gave the company a “buy” rating in a report on Friday, June 17th. Leerink Swann reiterated a “buy” rating and set a $35.00 target price on shares of Paratek Pharmaceuticals in a report on Sunday, May 15th. Finally, Zacks Investment Research upgraded Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.67.
The stock has a 50 day moving average of $15.01 and a 200-day moving average of $15.12. The firm’s market cap is $235.76 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its earnings results on Monday, May 2nd. The specialty pharmaceutical company reported ($1.77) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by $0.52.
In other news, CEO Michael Bigham bought 20,000 shares of the stock in a transaction on Thursday, June 23rd. The shares were purchased 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 of the company’s stock, valued at approximately $1,345,000. The purchase was disclosed in a filing with the SEC, which is available 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 stock was purchased 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.
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 SEC. The fund 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 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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