Paratek Pharmaceuticals, Inc. (PRTK) Given Average Rating of “Buy” by Brokerages
Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) has received a consensus recommendation of “Buy” from the ten ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $38.00.
PRTK has been the subject of several recent research reports. Zacks Investment Research raised Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Thursday, April 20th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Paratek Pharmaceuticals in a research note on Monday, April 24th. 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 price objective for the company. HC Wainwright upped their price objective on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, BidaskClub downgraded Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th.
Shares of Paratek Pharmaceuticals (NASDAQ PRTK) opened at 19.65 on Friday. The stock’s 50 day moving average is $22.51 and its 200 day moving average is $19.91. Paratek Pharmaceuticals has a 12 month low of $9.80 and a 12 month high of $26.10. The firm’s market cap is $545.50 million.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.25. The firm had revenue of $7.51 million during the quarter, compared to analyst estimates of $7.50 million.
In other news, VP Adam Woodrow sold 3,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total transaction of $89,604.00. Following the completion of the sale, the vice president now owns 69,500 shares of the company’s stock, valued at approximately $1,638,810. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Evan Loh sold 4,351 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total transaction of $102,596.58. Following the sale, the chief operating officer now directly owns 112,783 shares of the company’s stock, valued at approximately $2,659,423.14. The disclosure for this sale can be found here. Insiders have sold a total of 21,960 shares of company stock valued at $524,342 in the last three months. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. bought a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at approximately $630,000. Nine Chapters Capital Management LLC bought a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at approximately $258,000. Bank of New York Mellon Corp increased its stake in shares of Paratek Pharmaceuticals by 17.5% in the first quarter. Bank of New York Mellon Corp now owns 84,045 shares of the specialty pharmaceutical company’s stock valued at $1,618,000 after buying an additional 12,505 shares during the period. Falcon Point Capital LLC bought a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at approximately $200,000. Finally, C WorldWide Group Holding A S bought a new stake in shares of Paratek Pharmaceuticals during the first quarter valued at approximately $1,540,000. 77.36% of the stock is owned by institutional investors.
Paratek Pharmaceuticals Company Profile
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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