Paratek Pharmaceuticals (PRTK) Downgraded to “Hold” at Zacks Investment Research

Paratek Pharmaceuticals (NASDAQ:PRTK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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 equities research analysts have also recently weighed in on PRTK. Guggenheim initiated coverage on Paratek Pharmaceuticals in a research note on Tuesday, October 24th. They set a “buy” rating and a $44.00 price objective on the stock. Robert W. Baird reissued a “buy” rating and set a $40.00 price objective on shares of Paratek Pharmaceuticals in a research note on Tuesday, October 24th. BidaskClub cut Paratek Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 2nd. ValuEngine cut Paratek Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. Finally, Cantor Fitzgerald set a $50.00 price objective on Paratek Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Paratek Pharmaceuticals currently has an average rating of “Buy” and an average price target of $39.38.

Shares of Paratek Pharmaceuticals (NASDAQ PRTK) opened at $13.98 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 10.53 and a current ratio of 10.53. Paratek Pharmaceuticals has a 52 week low of $11.85 and a 52 week high of $29.00. The firm has a market capitalization of $433.81, a P/E ratio of -3.75 and a beta of 0.21.

In other news, Director Robert S. Radie sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $14.22, for a total transaction of $42,660.00. Following the transaction, the director now owns 9,330 shares of the company’s stock, valued at $132,672.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Evan Loh sold 3,040 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $14.22, for a total value of $43,228.80. Following the transaction, the chief operating officer now directly owns 144,870 shares in the company, valued at approximately $2,060,051.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,664 shares of company stock worth $573,226. Insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new position in shares of Paratek Pharmaceuticals during the third quarter valued at approximately $104,000. SG Americas Securities LLC bought a new position in shares of Paratek Pharmaceuticals during the third quarter valued at approximately $123,000. Citigroup Inc. grew its stake in shares of Paratek Pharmaceuticals by 19,470.0% during the second quarter. Citigroup Inc. now owns 7,828 shares of the specialty pharmaceutical company’s stock valued at $189,000 after buying an additional 7,788 shares during the last quarter. Sei Investments Co. grew its stake in shares of Paratek Pharmaceuticals by 2,069.3% during the third quarter. Sei Investments Co. now owns 8,981 shares of the specialty pharmaceutical company’s stock valued at $225,000 after buying an additional 8,567 shares during the last quarter. Finally, Loeb Partners Corp bought a new position in shares of Paratek Pharmaceuticals during the third quarter valued at approximately $226,000. 74.65% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Paratek Pharmaceuticals (NASDAQ:PRTK)

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