Paratek Pharmaceuticals (NASDAQ:PRTK) had its price target cut by HC Wainwright from $55.00 to $22.00 in a research report sent to investors on Friday, MarketBeat.com reports. They currently have a buy rating on the specialty pharmaceutical company’s stock.
Several other equities analysts have also recently issued reports on the company. ValuEngine upgraded Paratek Pharmaceuticals from a strong sell rating to a sell rating in a research report on Tuesday, October 2nd. Bank of America began coverage on Paratek Pharmaceuticals in a report on Monday, August 27th. They issued a neutral rating and a $13.00 price target on the stock. Cantor Fitzgerald restated a buy rating and issued a $50.00 price target on shares of Paratek Pharmaceuticals in a report on Thursday, August 2nd. Wedbush set a $20.00 price target on Paratek Pharmaceuticals and gave the stock a buy rating in a report on Thursday, August 9th. Finally, Guggenheim set a $26.00 price target on Paratek Pharmaceuticals and gave the stock a buy rating in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $25.57.
NASDAQ PRTK opened at $7.32 on Friday. The company has a debt-to-equity ratio of 3.97, a quick ratio of 11.39 and a current ratio of 11.39. Paratek Pharmaceuticals has a 12-month low of $6.27 and a 12-month high of $20.90. The company has a market cap of $232.06 million, a price-to-earnings ratio of -2.22 and a beta of 0.74.
Paratek Pharmaceuticals (NASDAQ:PRTK) last released its earnings results on Tuesday, November 6th. The specialty pharmaceutical company reported ($1.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.85) by ($0.16). Paratek Pharmaceuticals had a negative return on equity of 132.55% and a negative net margin of 2,155.03%. The business had revenue of $0.05 million for the quarter, compared to analyst estimates of $5.89 million. As a group, equities research analysts forecast that Paratek Pharmaceuticals will post -3.29 EPS for the current year.
In related news, COO Evan Loh sold 8,861 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $9.82, for a total value of $87,015.02. Following the sale, the chief operating officer now owns 235,286 shares in the company, valued at approximately $2,310,508.52. 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 company’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was 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 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 90 days, insiders sold 58,446 shares of company stock worth $559,369. Insiders own 6.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. National Asset Management Inc. acquired a new stake in shares of Paratek Pharmaceuticals in the 3rd quarter worth approximately $117,000. Balter Liquid Alternatives LLC purchased a new stake in Paratek Pharmaceuticals in the 2nd quarter valued at approximately $137,000. Metropolitan Life Insurance Co. NY lifted its stake in Paratek Pharmaceuticals by 81.4% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,760 shares of the specialty pharmaceutical company’s stock valued at $151,000 after buying an additional 6,625 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Paratek Pharmaceuticals in the 2nd quarter valued at approximately $154,000. Finally, MetLife Investment Advisors LLC lifted its stake in Paratek Pharmaceuticals by 57.1% in the 2nd quarter. MetLife Investment Advisors LLC now owns 16,222 shares of the specialty pharmaceutical company’s stock valued at $165,000 after buying an additional 5,895 shares in the last quarter. Institutional investors and hedge funds own 75.31% 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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