Brokerages expect that Paratek Pharmaceuticals Inc (NASDAQ:PRTK) will post sales of $5.89 million for the current quarter, Zacks reports. Five analysts have made estimates for Paratek Pharmaceuticals’ earnings, with estimates ranging from $150,000.00 to $12.00 million. Paratek Pharmaceuticals reported sales of $10,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 58,800%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, November 6th.
On average, analysts expect that Paratek Pharmaceuticals will report full-year sales of $18.55 million for the current year, with estimates ranging from $50,000.00 to $69.84 million. For the next fiscal year, analysts expect that the firm will post sales of $34.68 million, with estimates ranging from $16.73 million to $95.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Paratek Pharmaceuticals.
Several research analysts have commented on PRTK shares. ValuEngine upgraded Paratek Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Bank of America started coverage on Paratek Pharmaceuticals in a research note on Monday, August 27th. They issued a “neutral” rating and a $13.00 target price for the company. Cantor Fitzgerald restated a “buy” rating and issued a $50.00 target price on shares of Paratek Pharmaceuticals in a research note on Thursday, August 2nd. Wedbush set a $20.00 target price on Paratek Pharmaceuticals and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, Guggenheim set a $26.00 target price on Paratek Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $30.29.
NASDAQ PRTK traded up $0.01 during trading hours on Thursday, hitting $6.98. The company had a trading volume of 974,059 shares, compared to its average volume of 643,577. Paratek Pharmaceuticals has a 52 week low of $6.65 and a 52 week high of $22.65. The company has a quick ratio of 7.88, a current ratio of 7.88 and a debt-to-equity ratio of 2.37. The company has a market cap of $237.65 million, a P/E ratio of -2.12 and a beta of 0.74.
In other Paratek Pharmaceuticals news, COO Evan Loh sold 5,200 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $8.96, for a total value of $46,592.00. Following the sale, the chief operating officer now owns 294,425 shares of the company’s stock, valued at approximately $2,638,048. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael Bigham sold 16,313 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $9.82, for a total value of $160,193.66. Following the completion of the sale, the chairman now directly owns 213,480 shares in the company, valued at approximately $2,096,373.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,446 shares of company stock worth $559,369. Insiders own 6.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PRTK. Highland Capital Management LP raised its holdings in shares of Paratek Pharmaceuticals by 99.9% in the 2nd quarter. Highland Capital Management LP now owns 1,917,878 shares of the specialty pharmaceutical company’s stock valued at $19,562,000 after acquiring an additional 958,600 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Paratek Pharmaceuticals by 27.3% during the 2nd quarter. BlackRock Inc. now owns 2,583,390 shares of the specialty pharmaceutical company’s stock valued at $26,350,000 after buying an additional 554,545 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Paratek Pharmaceuticals during the 2nd quarter valued at about $3,629,000. Granahan Investment Management Inc. MA purchased a new position in shares of Paratek Pharmaceuticals during the 2nd quarter valued at about $1,801,000. Finally, California Public Employees Retirement System purchased a new position in shares of Paratek Pharmaceuticals during the 1st quarter valued at about $1,565,000. 77.43% of the stock is currently owned by hedge funds and other 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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