Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) Cut to Buy at BidaskClub

BidaskClub cut shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) from a strong-buy rating to a buy rating in a research report released on Monday, July 24th.

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald set a $50.00 price target on Paratek Pharmaceuticals and gave the company a buy rating in a research report on Monday, July 17th. HC Wainwright lifted their price target on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a buy rating in a research report on Tuesday, July 18th. Guggenheim set a $38.00 price target on Paratek Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, April 4th. BTIG Research lifted their price target on Paratek Pharmaceuticals from $47.00 to $56.00 and gave the company a buy rating in a research report on Tuesday, April 4th. Finally, Robert W. Baird reiterated an outperform rating and set a $40.00 price target on shares of Paratek Pharmaceuticals in a research report on Tuesday, April 4th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $37.44.

Shares of Paratek Pharmaceuticals (NASDAQ:PRTK) traded down 1.27% on Monday, reaching $19.45. The company had a trading volume of 245,891 shares. Paratek Pharmaceuticals has a 12 month low of $9.80 and a 12 month high of $26.10. The company’s market capitalization is $539.95 million. The stock has a 50 day moving average price of $21.72 and a 200-day moving average price of $20.15.

Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.25. The business had revenue of $7.51 million for the quarter, compared to the consensus estimate of $7.50 million.

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In related news, Chairman Michael Bigham sold 5,075 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total transaction of $119,668.50. Following the completion of the transaction, the chairman now owns 109,500 shares of the company’s stock, valued at approximately $2,582,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Adam Woodrow sold 3,800 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $23.58, for a total value of $89,604.00. Following the transaction, the vice president now owns 69,500 shares in the company, valued at $1,638,810. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,960 shares of company stock valued at $524,342. Insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Paratek Pharmaceuticals by 19.8% in the second quarter. Vanguard Group Inc. now owns 867,616 shares of the specialty pharmaceutical company’s stock valued at $20,909,000 after buying an additional 143,316 shares in the last quarter. State Street Corp raised its stake in Paratek Pharmaceuticals by 112.3% in the second quarter. State Street Corp now owns 616,112 shares of the specialty pharmaceutical company’s stock valued at $14,850,000 after buying an additional 325,856 shares in the last quarter. Renaissance Technologies LLC raised its stake in Paratek Pharmaceuticals by 44.0% in the second quarter. Renaissance Technologies LLC now owns 596,749 shares of the specialty pharmaceutical company’s stock valued at $14,382,000 after buying an additional 182,236 shares in the last quarter. Franklin Resources Inc. raised its stake in Paratek Pharmaceuticals by 106.8% in the second quarter. Franklin Resources Inc. now owns 508,066 shares of the specialty pharmaceutical company’s stock valued at $12,244,000 after buying an additional 262,374 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its stake in Paratek Pharmaceuticals by 449.3% in the second quarter. C WorldWide Group Holding A S now owns 439,400 shares of the specialty pharmaceutical company’s stock valued at $10,590,000 after buying an additional 359,400 shares in the last quarter. Institutional investors own 77.96% of the company’s stock.

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.

Analyst Recommendations for Paratek Pharmaceuticals (NASDAQ:PRTK)

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