Paratek Pharmaceuticals (PRTK) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Paratek Pharmaceuticals (NASDAQ:PRTK) from a hold rating to a buy rating in a report issued on Friday morning. Zacks Investment Research currently has $16.00 target price on the specialty pharmaceutical company’s stock.

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

Shares of Paratek Pharmaceuticals (PRTK) opened at $13.97 on Friday. Paratek Pharmaceuticals has a fifty-two week low of $11.85 and a fifty-two week high of $29.00. The company has a debt-to-equity ratio of 0.49, a current ratio of 10.53 and a quick ratio of 10.53. The company has a market capitalization of $390.48, a P/E ratio of -3.75 and a beta of 0.27.

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

Several hedge funds and other institutional investors have recently modified their holdings of PRTK. Schwab Charles Investment Management Inc. grew its stake in shares of Paratek Pharmaceuticals by 45.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 36,608 shares of the specialty pharmaceutical company’s stock valued at $883,000 after buying an additional 11,500 shares in the last quarter. Swiss National Bank grew its stake in shares of Paratek Pharmaceuticals by 15.8% in the second quarter. Swiss National Bank now owns 30,100 shares of the specialty pharmaceutical company’s stock valued at $725,000 after buying an additional 4,100 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Paratek Pharmaceuticals by 9.7% in the second quarter. Wells Fargo & Company MN now owns 17,075 shares of the specialty pharmaceutical company’s stock valued at $411,000 after buying an additional 1,509 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Paratek Pharmaceuticals by 71.3% in the second quarter. Alliancebernstein L.P. now owns 20,900 shares of the specialty pharmaceutical company’s stock valued at $504,000 after buying an additional 8,700 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Paratek Pharmaceuticals by 26.5% in the second quarter. Teachers Advisors LLC now owns 42,773 shares of the specialty pharmaceutical company’s stock valued at $1,031,000 after buying an additional 8,959 shares in the last quarter. 74.55% of the stock is owned by institutional investors and hedge funds.

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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.

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