Paratek Pharmaceuticals (NASDAQ:PRTK) Reaches New 1-Year High at $11.23

Paratek Pharmaceuticals, Inc. (NASDAQ:PRTK)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $11.23 and last traded at $10.93, with a volume of 1529242 shares. The stock had previously closed at $10.13.

A number of equities research analysts have recently issued reports on the stock. SVB Leerink reaffirmed a “buy” rating and set a $14.00 target price on shares of Paratek Pharmaceuticals in a report on Thursday, March 4th. WBB Securities raised shares of Paratek Pharmaceuticals from a “speculative buy” rating to a “buy” rating and set a $10.00 target price for the company in a report on Thursday, April 29th. Jefferies Financial Group assumed coverage on shares of Paratek Pharmaceuticals in a report on Tuesday, March 2nd. They set a “buy” rating and a $15.00 target price for the company. Finally, Zacks Investment Research raised shares of Paratek Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 19th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.60.

The firm’s 50-day moving average price is $8.03. The stock has a market capitalization of $512.92 million, a PE ratio of -5.73 and a beta of 1.57.

Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings results on Monday, May 17th. The specialty pharmaceutical company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.17). The firm had revenue of $16.43 million for the quarter, compared to analysts’ expectations of $32.83 million. Equities research analysts forecast that Paratek Pharmaceuticals, Inc. will post -0.11 earnings per share for the current year.

In other Paratek Pharmaceuticals news, Chairman Michael Bigham sold 34,364 shares of the company’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $9.70, for a total value of $333,330.80. Following the transaction, the chairman now owns 913,676 shares of the company’s stock, valued at $8,862,657.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel William M. Haskel sold 7,561 shares of the company’s stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $9.70, for a total transaction of $73,341.70. Following the completion of the transaction, the general counsel now directly owns 364,653 shares in the company, valued at approximately $3,537,134.10. The disclosure for this sale can be found here. Insiders sold 59,107 shares of company stock worth $573,338 in the last ninety days. 5.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRTK. State of Wisconsin Investment Board lifted its position in Paratek Pharmaceuticals by 90.5% in the fourth quarter. State of Wisconsin Investment Board now owns 114,100 shares of the specialty pharmaceutical company’s stock valued at $714,000 after buying an additional 54,200 shares during the last quarter. CM Management LLC purchased a new stake in Paratek Pharmaceuticals during the fourth quarter worth about $219,000. BlackRock Inc. increased its stake in Paratek Pharmaceuticals by 13.7% during the fourth quarter. BlackRock Inc. now owns 3,447,329 shares of the specialty pharmaceutical company’s stock worth $21,580,000 after purchasing an additional 416,481 shares during the period. New York State Common Retirement Fund increased its stake in Paratek Pharmaceuticals by 12.6% during the fourth quarter. New York State Common Retirement Fund now owns 83,524 shares of the specialty pharmaceutical company’s stock worth $523,000 after purchasing an additional 9,350 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in Paratek Pharmaceuticals during the fourth quarter worth about $105,000. 51.11% of the stock is currently owned by institutional investors.

Paratek Pharmaceuticals Company Profile (NASDAQ:PRTK)

Paratek Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of life-saving therapies for life-threatening diseases or other public health threats for civilian, government, and military use. Its lead product candidates include NUZYRA, a once-daily oral and intravenous broad-spectrum antibiotic for the treatment of adult patients with community-acquired bacterial pneumonia and acute bacterial skin and skin structure infections caused by susceptible pathogens; and SEYSARA, a tetracycline designed for the treatment of moderate to severe acne vulgaris.

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