Millennium Management LLC reduced its stake in shares of Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 295,622 shares of the specialty pharmaceutical company’s stock after selling 38,731 shares during the quarter. Millennium Management LLC’s holdings in Paratek Pharmaceuticals were worth $5,292,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in PRTK. Great West Life Assurance Co. Can bought a new position in shares of Paratek Pharmaceuticals during the third quarter valued at about $104,000. SG Americas Securities LLC bought a new position in shares of Paratek Pharmaceuticals during the third quarter valued at about $123,000. Landscape Capital Management L.L.C. bought a new position in shares of Paratek Pharmaceuticals during the fourth quarter valued at about $221,000. Belpointe Asset Management LLC bought a new position in shares of Paratek Pharmaceuticals during the third quarter valued at about $228,000. Finally, Virtus Fund Advisers LLC bought a new position in shares of Paratek Pharmaceuticals during the fourth quarter valued at about $350,000. 74.44% of the stock is currently owned by hedge funds and other institutional investors.
Paratek Pharmaceuticals stock opened at $13.35 on Tuesday. The company has a quick ratio of 9.56, a current ratio of 9.56 and a debt-to-equity ratio of 0.72. The stock has a market cap of $437.06, a PE ratio of -4.05 and a beta of 0.43. Paratek Pharmaceuticals, Inc. has a 1-year low of $11.85 and a 1-year high of $29.00.
Paratek Pharmaceuticals (NASDAQ:PRTK) last posted its earnings results on Thursday, March 1st. The specialty pharmaceutical company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.03). The firm had revenue of $5.07 million for the quarter, compared to analysts’ expectations of $5.00 million. Paratek Pharmaceuticals had a negative return on equity of 93.16% and a negative net margin of 706.00%. sell-side analysts predict that Paratek Pharmaceuticals, Inc. will post -3.44 earnings per share for the current year.
PRTK has been the topic of a number of recent research reports. Zacks Investment Research raised Paratek Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Tuesday, January 23rd. Cantor Fitzgerald set a $50.00 price objective on Paratek Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, January 3rd. ValuEngine cut Paratek Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. HC Wainwright raised their price objective on Paratek Pharmaceuticals from $43.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Paratek Pharmaceuticals in a research note on Friday, March 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $40.00.
In other news, CFO Douglas W. Pagan sold 5,237 shares of the stock in a transaction dated Monday, April 9th. The shares were sold at an average price of $12.70, for a total transaction of $66,509.90. Following the completion of the sale, the chief financial officer now directly owns 77,083 shares in the company, valued at $978,954.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Douglas W. Pagan sold 16,291 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $14.22, for a total transaction of $231,658.02. Following the sale, the chief financial officer now owns 39,570 shares of the company’s stock, valued at $562,685.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,385 shares of company stock valued at $925,282. 4.90% of the stock is currently owned by company insiders.
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Paratek Pharmaceuticals Profile
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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