Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) – Analysts at Wedbush decreased their Q3 2017 earnings per share (EPS) estimates for shares of Paratek Pharmaceuticals in a research report issued on Thursday. Wedbush analyst R. Driscoll now forecasts that the specialty pharmaceutical company will earn ($0.87) per share for the quarter, down from their prior estimate of ($0.86). Wedbush also issued estimates for Paratek Pharmaceuticals’ FY2017 earnings at ($3.34) EPS, Q2 2018 earnings at ($0.89) EPS, Q3 2018 earnings at ($0.48) EPS, Q4 2018 earnings at ($0.73) EPS, FY2018 earnings at ($2.96) EPS, FY2019 earnings at ($2.46) EPS, FY2020 earnings at ($2.52) EPS and FY2021 earnings at ($1.73) EPS.
PRTK has been the topic of several other reports. BidaskClub lowered Paratek Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. HC Wainwright raised their price objective on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Cantor Fitzgerald set a $50.00 price objective on Paratek Pharmaceuticals and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Zacks Investment Research raised Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, April 20th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $37.44.
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Paratek Pharmaceuticals (NASDAQ PRTK) opened at 22.90 on Monday. The company’s market capitalization is $632.04 million. Paratek Pharmaceuticals has a 52 week low of $9.80 and a 52 week high of $26.10. The company’s 50 day moving average price is $22.77 and its 200-day moving average price is $19.72.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings data on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.25. The company had revenue of $7.51 million for the quarter, compared to the consensus estimate of $7.50 million.
In other news, VP Adam Woodrow sold 3,800 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $89,604.00. Following the sale, the vice president now directly owns 69,500 shares of the company’s stock, valued at $1,638,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Michael Bigham sold 5,075 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $23.58, for a total value of $119,668.50. Following the completion of the sale, the chairman now directly owns 109,500 shares in the company, valued at $2,582,010. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,960 shares of company stock worth $524,342. 4.90% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. C WorldWide Group Holding A S raised its stake in shares of 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 worth $10,590,000 after buying an additional 359,400 shares in the last quarter. Pictet Asset Management Ltd. purchased a new stake in shares of Paratek Pharmaceuticals during the second quarter worth about $6,957,000. Renaissance Technologies LLC raised its stake in shares of Paratek Pharmaceuticals by 275.9% in the first quarter. Renaissance Technologies LLC now owns 414,513 shares of the specialty pharmaceutical company’s stock worth $7,979,000 after buying an additional 304,249 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Paratek Pharmaceuticals during the first quarter worth about $3,258,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Paratek Pharmaceuticals during the first quarter worth about $3,258,000. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
About Paratek Pharmaceuticals
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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