Bank of America assumed coverage on shares of Paratek Pharmaceuticals (NASDAQ:PRTK) in a research report released on Monday, Marketbeat.com reports. The brokerage issued a neutral rating and a $13.00 price target on the specialty pharmaceutical company’s stock.
A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald reaffirmed a buy rating and issued a $50.00 price objective on shares of Paratek Pharmaceuticals in a report on Thursday, August 2nd. Wedbush set a $20.00 price objective on Paratek Pharmaceuticals and gave the company a buy rating in a report on Thursday, August 9th. Finally, Zacks Investment Research raised Paratek Pharmaceuticals from a hold rating to a buy rating and set a $12.00 price objective on the stock in a report on Wednesday, July 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The company has an average rating of Buy and a consensus price target of $33.75.
Shares of PRTK opened at $10.20 on Monday. Paratek Pharmaceuticals has a twelve month low of $9.38 and a twelve month high of $29.00. The company has a market capitalization of $320.47 million, a price-to-earnings ratio of -3.09 and a beta of 0.65. The company has a debt-to-equity ratio of 2.37, a quick ratio of 7.88 and a current ratio of 7.88.
Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings data on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.92) by ($0.02). Paratek Pharmaceuticals had a negative net margin of 1,961.41% and a negative return on equity of 106.39%. The business had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.10 million. analysts expect that Paratek Pharmaceuticals will post -3.41 EPS for the current year.
In other news, VP William M. Haskel sold 7,323 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $9.97, for a total transaction of $73,010.31. Following the completion of the sale, the vice president now directly owns 62,274 shares in the company, valued at approximately $620,871.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Michael Bigham sold 22,500 shares of Paratek Pharmaceuticals stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $9.97, for a total transaction of $224,325.00. Following the sale, the chairman now owns 177,230 shares of the company’s stock, valued at $1,766,983.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,823 shares of company stock valued at $416,975. Insiders own 6.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Balter Liquid Alternatives LLC acquired a new position in shares of Paratek Pharmaceuticals during the 2nd quarter worth approximately $137,000. Wedbush Securities Inc. acquired a new position in shares of Paratek Pharmaceuticals during the 1st quarter worth approximately $144,000. Cubist Systematic Strategies LLC acquired a new position in shares of Paratek Pharmaceuticals during the 1st quarter worth approximately $147,000. Metropolitan Life Insurance Co. NY raised its position in shares of Paratek Pharmaceuticals by 81.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,760 shares of the specialty pharmaceutical company’s stock worth $151,000 after purchasing an additional 6,625 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Paratek Pharmaceuticals during the 2nd quarter worth approximately $154,000. Institutional investors own 77.31% of the company’s stock.
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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