Paratek Pharmaceuticals (PRTK) Shares Gap Down to $17.67
Paratek Pharmaceuticals Inc (NASDAQ:PRTK) gapped down prior to trading on Friday . The stock had previously closed at $18.99, but opened at $17.67. Paratek Pharmaceuticals shares last traded at $15.85, with a volume of 2613100 shares changing hands.
A number of research firms have commented on PRTK. Zacks Investment Research downgraded Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. Cantor Fitzgerald reissued a “buy” rating and issued a $50.00 target price on shares of Paratek Pharmaceuticals in a report on Thursday, September 21st. Robert W. Baird reissued a “buy” rating and issued a $40.00 target price on shares of Paratek Pharmaceuticals in a report on Tuesday, October 24th. Guggenheim began coverage on Paratek Pharmaceuticals in a report on Tuesday, October 24th. They issued a “buy” rating and a $44.00 target price for the company. Finally, BidaskClub downgraded Paratek Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Paratek Pharmaceuticals currently has an average rating of “Buy” and an average price target of $40.00.
The stock has a market cap of $444.96, a P/E ratio of -4.25 and a beta of 0.70. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 0.49.
Several large investors have recently added to or reduced their stakes in PRTK. Alyeska Investment Group L.P. raised its stake in shares of Paratek Pharmaceuticals by 473.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 916,349 shares of the specialty pharmaceutical company’s stock worth $23,000,000 after buying an additional 756,535 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Paratek Pharmaceuticals during the 3rd quarter worth $8,598,000. State Street Corp raised its stake in shares of Paratek Pharmaceuticals by 112.3% during the 2nd quarter. State Street Corp now owns 616,112 shares of the specialty pharmaceutical company’s stock worth $14,850,000 after buying an additional 325,856 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Paratek Pharmaceuticals by 90.8% during the 3rd quarter. Pictet Asset Management Ltd. now owns 661,995 shares of the specialty pharmaceutical company’s stock worth $16,616,000 after buying an additional 315,010 shares during the last quarter. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Paratek Pharmaceuticals during the 3rd quarter worth $6,727,000. 84.30% of the stock is owned by institutional investors and hedge funds.
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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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