BidaskClub Downgrades Paratek Pharmaceuticals, Inc. (PRTK) to Hold
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other research analysts also recently commented on PRTK. HC Wainwright lifted their price objective on Paratek Pharmaceuticals from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Zacks Investment Research upgraded Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, April 20th. Cantor Fitzgerald reiterated a “buy” rating and issued a $32.00 price objective on shares of Paratek Pharmaceuticals in a report on Monday, April 24th. Finally, Raymond James Financial, Inc. initiated coverage on Paratek Pharmaceuticals in a research note on Thursday, May 18th. They issued a “strong-buy” rating and a $36.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.78.
Shares of Paratek Pharmaceuticals (PRTK) traded up 1.83% during midday trading on Friday, hitting $19.50. The company had a trading volume of 339,620 shares. The company’s market capitalization is $538.20 million. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $26.10. The firm’s 50 day moving average is $22.99 and its 200 day moving average is $19.72.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.25. The company had revenue of $7.51 million during the quarter, compared to analysts’ expectations of $7.50 million.
In related news, COO Evan Loh sold 4,351 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $102,596.58. Following the sale, the chief operating officer now directly owns 112,783 shares of the company’s stock, valued at $2,659,423.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam Woodrow sold 3,800 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $89,604.00. Following the completion of the sale, the vice president now directly owns 69,500 shares in the company, valued at $1,638,810. The disclosure for this sale can be found here. Insiders sold 21,960 shares of company stock worth $524,342 over the last three months. 4.90% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of PRTK. Legal & General Group Plc boosted its stake in Paratek Pharmaceuticals by 13.3% in the second quarter. Legal & General Group Plc now owns 5,865 shares of the specialty pharmaceutical company’s stock valued at $144,000 after buying an additional 687 shares during the last quarter. Falcon Point Capital LLC purchased a new stake in Paratek Pharmaceuticals during the first quarter valued at $200,000. Fox Run Management L.L.C. purchased a new stake in Paratek Pharmaceuticals during the second quarter valued at $200,000. Russell Investments Group Ltd. purchased a new stake in Paratek Pharmaceuticals during the first quarter valued at $211,000. Finally, American International Group Inc. boosted its stake in Paratek Pharmaceuticals by 34.1% in the first quarter. American International Group Inc. now owns 11,111 shares of the specialty pharmaceutical company’s stock valued at $214,000 after buying an additional 2,824 shares during the last quarter. 75.86% of the stock is currently owned by institutional investors.
About Paratek Pharmaceuticals
Paratek Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics based upon tetracycline chemistry. Its product candidates are the antibacterials omadacycline and sarecycline. Omadacycline is an antibiotic being developed for use as an empiric monotherapy option for patients suffering from serious, community-acquired bacterial infections.
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