Trade Report: Today, Paratek Pharmaceuticals Inc. (PRTK) Lowered to Sell at Zacks Investment Research

Today, Paratek Pharmaceuticals Inc. (PRTK) Lowered to Sell at Zacks Investment Research

Paratek Pharmaceuticals Inc. (NASDAQ:PRTK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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 brokerages have also recently issued reports on PRTK. BTIG Research reiterated a “buy” rating and issued a $45.00 price objective on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price objective (up from $30.00) on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. HC Wainwright increased their price objective on Paratek Pharmaceuticals from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, June 17th. Cantor Fitzgerald reiterated a “buy” rating and issued a $30.00 price objective (up from $27.00) on shares of Paratek Pharmaceuticals in a research note on Friday, June 17th. Finally, Ladenburg Thalmann increased their price objective on Paratek Pharmaceuticals from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, June 17th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.88.

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Paratek Pharmaceuticals (NASDAQ:PRTK) traded down 2.72% during mid-day trading on Thursday, reaching $13.61. The company’s stock had a trading volume of 63,072 shares. The stock’s 50 day moving average is $13.45 and its 200 day moving average is $14.05. Paratek Pharmaceuticals has a one year low of $12.05 and a one year high of $24.00. The firm’s market cap is $307.95 million.

Paratek Pharmaceuticals (NASDAQ:PRTK) last released its quarterly earnings results on Thursday, August 4th. The specialty pharmaceutical company reported ($1.69) EPS for the quarter, missing the consensus estimate of ($1.66) by $0.03.

A number of hedge funds have recently bought and sold shares of the stock. American International Group Inc. boosted its stake in Paratek Pharmaceuticals by 16.2% in the second quarter. American International Group Inc. now owns 8,297 shares of the specialty pharmaceutical company’s stock worth $115,000 after buying an additional 1,156 shares during the period. Nationwide Fund Advisors boosted its stake in Paratek Pharmaceuticals by 7.5% in the second quarter. Nationwide Fund Advisors now owns 8,924 shares of the specialty pharmaceutical company’s stock worth $124,000 after buying an additional 621 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Paratek Pharmaceuticals by 15.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,613 shares of the specialty pharmaceutical company’s stock worth $148,000 after buying an additional 1,411 shares during the period. Birchview Capital LP purchased a new stake in Paratek Pharmaceuticals during the second quarter worth approximately $155,000. Finally, Rhumbline Advisers boosted its stake in Paratek Pharmaceuticals by 12.3% in the second quarter. Rhumbline Advisers now owns 13,792 shares of the specialty pharmaceutical company’s stock worth $192,000 after buying an additional 1,510 shares during the period. Institutional investors own 77.18% of the company’s stock.

Paratek Pharmaceuticals Company Profile

Paratek Pharmaceuticals, Inc (Paratek), formerly Transcept Pharmaceuticals, Inc is a pharmaceutical company focused on the development and commercialization of antibacterial therapeutics based upon tetracycline chemistry. Paratek’s antibacterial product candidates are omadacycline and sarecycline. Omadacycline is a broad-spectrum antibiotic for use as an empiric monotherapy for community-acquired bacterial infections, such as acute bacterial skin and skin structure infections (ABSSSI), community-acquired bacterial pneumonia (CABP) and urinary tract infections (UTI).

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