Zacks Investment Research Upgrades Paratek Pharmaceuticals (PRTK) to Buy
Zacks Investment Research upgraded shares of Paratek Pharmaceuticals (NASDAQ:PRTK) from a hold rating to a buy rating in a research note issued to investors on Friday. The brokerage currently has $15.00 price target on the specialty pharmaceutical company’s stock.
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. “
Other equities analysts have also issued reports about the company. ValuEngine lowered Paratek Pharmaceuticals from a sell rating to a strong sell rating in a research report on Friday, February 2nd. Robert W. Baird reaffirmed a buy rating and set a $40.00 target price on shares of Paratek Pharmaceuticals in a research report on Tuesday, October 24th. Guggenheim started coverage on Paratek Pharmaceuticals in a research report on Tuesday, October 24th. They issued a buy rating and a $44.00 price target for 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 Tuesday, October 17th. Finally, BidaskClub lowered Paratek Pharmaceuticals from a sell rating to a strong sell rating in a research report on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $39.25.
In other Paratek Pharmaceuticals news, CFO Douglas W. Pagan sold 16,291 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $14.22, for a total value of $231,658.02. Following the completion of the transaction, the chief financial officer now owns 39,570 shares in the company, valued at approximately $562,685.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert S. Radie sold 3,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $14.22, for a total value of $42,660.00. Following the completion of the transaction, the director now owns 9,330 shares of the company’s stock, valued at approximately $132,672.60. The disclosure for this sale can be found here. Insiders sold a total of 40,664 shares of company stock valued at $573,226 over the last three months. 4.90% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can bought a new position in Paratek Pharmaceuticals in the 3rd quarter valued at $104,000. SG Americas Securities LLC bought a new position in Paratek Pharmaceuticals in the 3rd quarter valued at $123,000. Legal & General Group Plc grew its stake in Paratek Pharmaceuticals by 13.3% in the 2nd quarter. Legal & General Group Plc now owns 5,865 shares of the specialty pharmaceutical company’s stock valued at $144,000 after purchasing an additional 687 shares during the period. Citigroup Inc. grew its stake in Paratek Pharmaceuticals by 19,470.0% in the 2nd quarter. Citigroup Inc. now owns 7,828 shares of the specialty pharmaceutical company’s stock valued at $189,000 after purchasing an additional 7,788 shares during the period. Finally, Sei Investments Co. grew its stake in Paratek Pharmaceuticals by 2,069.3% in the 3rd quarter. Sei Investments Co. now owns 8,981 shares of the specialty pharmaceutical company’s stock valued at $225,000 after purchasing an additional 8,567 shares during the period. Hedge funds and other institutional investors own 74.65% of the company’s stock.
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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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