Pictet Asset Management Ltd. Boosts Holdings in Paratek Pharmaceuticals, Inc. (PRTK)

Pictet Asset Management Ltd. grew its stake in shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) by 90.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 661,995 shares of the specialty pharmaceutical company’s stock after buying an additional 315,010 shares during the quarter. Pictet Asset Management Ltd. owned approximately 2.38% of Paratek Pharmaceuticals worth $16,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cadence Capital Management LLC bought a new stake in shares of Paratek Pharmaceuticals during the second quarter worth $562,000. Royce & Associates LP lifted its holdings in shares of Paratek Pharmaceuticals by 113.3% during the second quarter. Royce & Associates LP now owns 282,900 shares of the specialty pharmaceutical company’s stock worth $6,818,000 after purchasing an additional 150,300 shares during the period. Appleton Partners Inc. MA acquired a new position in shares of Paratek Pharmaceuticals during the second quarter worth $220,000. Marshall Wace LLP acquired a new position in shares of Paratek Pharmaceuticals during the second quarter worth $942,000. Finally, Alps Advisors Inc. acquired a new position in shares of Paratek Pharmaceuticals during the second quarter worth $598,000. 82.00% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts have recently commented on PRTK shares. Zacks Investment Research upgraded shares of Paratek Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. HC Wainwright lifted their price target on shares of Paratek Pharmaceuticals from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $50.00 price target on shares of Paratek Pharmaceuticals in a report on Wednesday, August 23rd. Raymond James Financial, Inc. reiterated a “strong-buy” rating and set a $36.00 price target on shares of Paratek Pharmaceuticals in a report on Thursday, August 24th. Finally, ValuEngine lowered shares of 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 given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Paratek Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $40.00.

Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) opened at $22.40 on Monday. The company has a quick ratio of 11.88, a current ratio of 11.88 and a debt-to-equity ratio of 0.43. Paratek Pharmaceuticals, Inc. has a fifty-two week low of $10.37 and a fifty-two week high of $29.00.

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.

Institutional Ownership by Quarter for Paratek Pharmaceuticals (NASDAQ:PRTK)

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