Paratek Pharmaceuticals (NASDAQ:PRTK) Upgraded to “Buy” by Zacks Investment Research

Paratek Pharmaceuticals (NASDAQ:PRTK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm currently has a $4.25 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 16.76% from the stock’s previous close.

According to Zacks, “Paratek Pharmaceuticals, Inc. is a biopharmaceutical company. The Company focuses on the discovery, development, and commercialization of therapeutics that treat infectious disease agents. The Company’s lead product candidate, omadacycline, is a tetracycline-derived antibiotic being developed for use as a first-line monotherapy for serious community-acquired bacterial infections where antibiotic resistance is of concern for treating physicians. Its second product candidate, WC 3035 is a tetracycline-derived compound designed for use in the treatment of acne and rosacea. Paratek Pharmaceuticals, Inc., formerly known as Transcept Pharmaceuticals, Inc., is based in United States. “

Several other equities research analysts have also issued reports on PRTK. WBB Securities started coverage on Paratek Pharmaceuticals in a research note on Wednesday, January 8th. They set a “buy” rating and a $6.00 price target for the company. Canaccord Genuity started coverage on Paratek Pharmaceuticals in a research note on Thursday, January 2nd. They set a “buy” rating and a $14.00 price target for the company. BTIG Research set a $36.00 price target on Paratek Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, December 18th. HC Wainwright dropped their price target on Paratek Pharmaceuticals from $27.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Finally, ValuEngine raised Paratek Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Eight equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $15.46.

NASDAQ:PRTK opened at $3.64 on Wednesday. The firm has a market capitalization of $136.48 million, a price-to-earnings ratio of -1.02 and a beta of 1.82. Paratek Pharmaceuticals has a 52-week low of $2.66 and a 52-week high of $7.39. The stock has a fifty day moving average of $3.63 and a 200 day moving average of $3.75.

Paratek Pharmaceuticals (NASDAQ:PRTK) last posted its quarterly earnings data on Tuesday, November 12th. The specialty pharmaceutical company reported ($1.00) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.06) by $0.06. Paratek Pharmaceuticals had a negative return on equity of 5,327.73% and a negative net margin of 505.07%. The company had revenue of $3.93 million during the quarter, compared to analyst estimates of $3.63 million. On average, equities analysts predict that Paratek Pharmaceuticals will post -4.16 earnings per share for the current year.

In other Paratek Pharmaceuticals news, CEO Evan Loh sold 14,514 shares of Paratek Pharmaceuticals stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $3.10, for a total transaction of $44,993.40. Following the completion of the sale, the chief executive officer now owns 417,603 shares of the company’s stock, valued at $1,294,569.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 23,656 shares of company stock valued at $73,334. Corporate insiders own 7.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRTK. Bank of Montreal Can lifted its stake in shares of Paratek Pharmaceuticals by 503.1% in the 2nd quarter. Bank of Montreal Can now owns 7,816 shares of the specialty pharmaceutical company’s stock valued at $31,000 after acquiring an additional 6,520 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Paratek Pharmaceuticals by 11.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 166,448 shares of the specialty pharmaceutical company’s stock valued at $665,000 after acquiring an additional 17,256 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Paratek Pharmaceuticals by 1.1% in the 2nd quarter. Northern Trust Corp now owns 414,364 shares of the specialty pharmaceutical company’s stock valued at $1,653,000 after acquiring an additional 4,517 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Paratek Pharmaceuticals by 131.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 165,448 shares of the specialty pharmaceutical company’s stock valued at $660,000 after acquiring an additional 94,096 shares during the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in shares of Paratek Pharmaceuticals in the 2nd quarter valued at about $121,000. 67.64% of the stock is owned by institutional investors.

About Paratek Pharmaceuticals

Paratek Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics based upon biology and tetracycline chemistry in the United States. Its lead product candidates include omadacycline, an intravenous and oral antibiotic for use as a monotherapy antibiotic for acute bacterial skin and skin structure infections, community-acquired bacterial pneumonia, urinary tract infections, and other community-acquired bacterial infections; and Sarecycline, a tetracycline-derived compound designed for use in the treatment of acne and rosacea.

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