Zacks Investment Research downgraded shares of Paratek Pharmaceuticals (NASDAQ:PRTK) from a hold rating to a sell rating in a report released 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. ValuEngine downgraded Paratek Pharmaceuticals from a hold rating to a sell rating in a research report on Wednesday, January 2nd. LADENBURG THALM/SH SH restated a buy rating and issued a $18.00 target price on shares of Paratek Pharmaceuticals in a research report on Tuesday, December 18th. HC Wainwright cut their target price on Paratek Pharmaceuticals from $55.00 to $22.00 and set a buy rating for the company in a research report on Friday, November 23rd. Finally, Canaccord Genuity began coverage on Paratek Pharmaceuticals in a research report on Wednesday, January 2nd. They issued a buy rating and a $14.00 target price for the company. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. Paratek Pharmaceuticals has an average rating of Hold and a consensus price target of $23.25.
Shares of NASDAQ PRTK traded up $0.12 during midday trading on Wednesday, hitting $6.60. 405,881 shares of the company’s stock were exchanged, compared to its average volume of 251,250. The company has a current ratio of 11.39, a quick ratio of 11.39 and a debt-to-equity ratio of 3.97. The company has a market cap of $230.13 million, a PE ratio of -1.85 and a beta of 1.55. Paratek Pharmaceuticals has a twelve month low of $4.50 and a twelve month high of $15.45.
In other Paratek Pharmaceuticals news, COO Evan Loh sold 11,525 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $6.50, for a total value of $74,912.50. Following the transaction, the chief operating officer now owns 283,700 shares of the company’s stock, valued at $1,844,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas John Dietz sold 9,330 shares of the company’s stock in a transaction on Friday, December 21st. The shares were sold at an average price of $5.01, for a total value of $46,743.30. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at approximately $37,575. The disclosure for this sale can be found here. Insiders sold 43,506 shares of company stock worth $275,601 in the last ninety days. 6.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of PRTK. General American Investors Co. Inc. raised its position in shares of Paratek Pharmaceuticals by 6.6% in the 4th quarter. General American Investors Co. Inc. now owns 464,985 shares of the specialty pharmaceutical company’s stock valued at $2,385,000 after buying an additional 28,621 shares in the last quarter. Bank of America Corp DE increased its position in Paratek Pharmaceuticals by 43.1% during the 4th quarter. Bank of America Corp DE now owns 23,504 shares of the specialty pharmaceutical company’s stock worth $120,000 after purchasing an additional 7,074 shares in the last quarter. Telemetry Investments L.L.C. acquired a new position in Paratek Pharmaceuticals during the 4th quarter worth approximately $113,000. Geode Capital Management LLC increased its position in Paratek Pharmaceuticals by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 308,773 shares of the specialty pharmaceutical company’s stock worth $1,584,000 after purchasing an additional 6,811 shares in the last quarter. Finally, Quinn Opportunity Partners LLC increased its position in Paratek Pharmaceuticals by 28.6% during the 4th quarter. Quinn Opportunity Partners LLC now owns 86,722 shares of the specialty pharmaceutical company’s stock worth $445,000 after purchasing an additional 19,284 shares in the last quarter. 74.09% of the stock is currently owned by institutional investors.
About Paratek Pharmaceuticals
Paratek Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics based upon tetracycline chemistry in the United States. Its lead product candidates include omadacycline, an intravenous and oral antibiotic for use as a monotherapy antibiotic for acute bacterial skin and skin structure infections, community-acquired bacterial pneumonia, urinary tract infections, and other community-acquired bacterial infections; and Sarecycline, a tetracycline-derived compound designed for use in the treatment of acne and rosacea.
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