Paratek Pharmaceuticals, Inc. (PRTK) Receives $39.50 Consensus PT from Brokerages
Shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) have earned a consensus recommendation of “Buy” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $39.50.
Several equities research analysts recently issued reports on the company. HC Wainwright increased their target price on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $50.00 price target on shares of Paratek Pharmaceuticals in a research note on Wednesday, August 23rd. Raymond James Financial, Inc. reaffirmed a “strong-buy” rating and set a $36.00 price target on shares of Paratek Pharmaceuticals in a research note on Thursday, August 24th. ValuEngine lowered Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Finally, BidaskClub cut Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th.
In related news, COO Evan Loh sold 4,351 shares of Paratek Pharmaceuticals stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total value of $102,596.58. Following the sale, the chief operating officer now owns 112,783 shares in the company, valued at $2,659,423.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Adam Woodrow sold 3,800 shares of Paratek Pharmaceuticals stock in a transaction 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 in the company, valued at approximately $1,638,810. The disclosure for this sale can be found here. Insiders sold 17,365 shares of company stock worth $409,467 over the last three months. 4.90% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the business. Cadence Capital Management LLC bought a new stake in shares of Paratek Pharmaceuticals during the 2nd quarter valued at $562,000. Royce & Associates LP grew its holdings in Paratek Pharmaceuticals by 113.3% in the second quarter. Royce & Associates LP now owns 282,900 shares of the specialty pharmaceutical company’s stock worth $6,818,000 after purchasing an additional 150,300 shares during the period. Appleton Partners Inc. MA bought a new position in shares of Paratek Pharmaceuticals during the second quarter valued at approximately $220,000. Marshall Wace LLP bought a new position in shares of Paratek Pharmaceuticals during the second quarter valued at approximately $942,000. Finally, Alps Advisors Inc. bought a new position in shares of Paratek Pharmaceuticals during the second quarter valued at approximately $598,000. Hedge funds and other institutional investors own 82.37% of the company’s stock.
Paratek Pharmaceuticals (PRTK) traded down 1.17% during midday trading on Friday, hitting $25.30. The stock had a trading volume of 281,393 shares. The company’s market cap is $702.35 million. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $29.00. The stock’s 50 day moving average price is $24.61 and its 200-day moving average price is $22.32.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.25. The company had revenue of $7.51 million for the quarter, compared to analysts’ expectations of $7.50 million.
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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