Paratek Pharmaceuticals Inc. (PRTK) Stock Price Up 5%
Paratek Pharmaceuticals Inc. (NASDAQ:PRTK)’s share price rose 5% during trading on Wednesday . The company traded as high as $14.10 and last traded at $13.98, with a volume of 185,783 shares traded. The stock had previously closed at $13.32.
PRTK has been the subject of a number of analyst reports. Zacks Investment Research downgraded Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Cantor Fitzgerald reissued a “buy” rating on shares of Paratek Pharmaceuticals in a research report on Wednesday, May 4th. Robert W. Baird began 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 restated 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 restated a “buy” rating on shares of Paratek Pharmaceuticals in a research note on Monday, May 16th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.88.
The stock’s market capitalization is $307.27 million. The firm’s 50 day moving average price is $13.08 and its 200 day moving average price is $14.34.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings data on Thursday, August 4th. The specialty pharmaceutical company reported ($1.69) EPS for the quarter, missing analysts’ consensus estimates of ($1.66) by $0.03.
In other news, major shareholder Fund Iv L.P. Omega acquired 461,538 shares of the business’s stock in a transaction dated 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Bigham acquired 20,000 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was purchased at an average price of $13.45 per share, for a total transaction of $269,000.00. Following the completion of the acquisition, the chief executive officer now 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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