Zacks Investment Research upgraded shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
A number of other equities research analysts also recently weighed in on PRTK. Cantor Fitzgerald set a $50.00 target price on Paratek Pharmaceuticals and gave the company a buy rating in a report on Monday, July 17th. HC Wainwright raised their target price on Paratek Pharmaceuticals from $36.00 to $43.00 and gave the company a buy rating in a report on Tuesday, July 18th. BidaskClub downgraded Paratek Pharmaceuticals from a strong-buy rating to a buy rating in a report on Monday, July 24th. Raymond James Financial, Inc. reaffirmed a strong-buy rating and issued a $36.00 target price on shares of Paratek Pharmaceuticals in a report on Thursday, August 24th. Finally, ValuEngine downgraded Paratek Pharmaceuticals from a hold rating to a sell rating in a report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $40.00.
Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its earnings results on Wednesday, August 2nd. The specialty pharmaceutical company reported ($0.64) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.25. The business had revenue of $7.51 million during the quarter, compared to analyst estimates of $7.50 million. research analysts predict that Paratek Pharmaceuticals will post -3.53 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Suffolk Capital Management LLC boosted its holdings in shares of Paratek Pharmaceuticals by 28.7% during the 3rd quarter. Suffolk Capital Management LLC now owns 69,305 shares of the specialty pharmaceutical company’s stock valued at $1,740,000 after acquiring an additional 15,439 shares in the last quarter. Alps Advisors Inc. boosted its holdings in shares of Paratek Pharmaceuticals by 10.2% during the 3rd quarter. Alps Advisors Inc. now owns 27,339 shares of the specialty pharmaceutical company’s stock valued at $686,000 after acquiring an additional 2,530 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Paratek Pharmaceuticals by 14.6% during the 3rd quarter. Swiss National Bank now owns 34,500 shares of the specialty pharmaceutical company’s stock valued at $866,000 after acquiring an additional 4,400 shares in the last quarter. Harvest Management LLC acquired a new stake in shares of Paratek Pharmaceuticals during the 3rd quarter valued at $377,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in shares of Paratek Pharmaceuticals during the 3rd quarter valued at $292,000. 80.59% of the stock is currently owned by institutional investors.
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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