Paratek Pharmaceuticals (NASDAQ:PRTK) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Paratek Pharmaceuticals (NASDAQ:PRTK) from a hold rating to a sell rating in a report published on Tuesday, Zacks.com reports.

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. “

Separately, HC Wainwright lowered their price objective on shares of Paratek Pharmaceuticals from $28.00 to $27.00 and set a buy rating on the stock in a research report on Tuesday, November 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $16.50.

Shares of NASDAQ:PRTK opened at $4.47 on Tuesday. The company’s fifty day moving average price is $4.58 and its 200 day moving average price is $5.13. Paratek Pharmaceuticals has a 12 month low of $4.03 and a 12 month high of $11.23.

Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings results on Monday, November 8th. The specialty pharmaceutical company reported ($0.37) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.08. The company had revenue of $24.45 million for the quarter, compared to analyst estimates of $22.98 million. During the same quarter in the prior year, the business earned ($0.46) earnings per share. Equities analysts expect that Paratek Pharmaceuticals will post -1.02 EPS for the current fiscal year.

In related news, CEO Evan Loh sold 13,983 shares of the business’s stock in a transaction that occurred on Monday, December 13th. The shares were sold at an average price of $4.42, for a total value of $61,804.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael Bigham sold 17,819 shares of the business’s stock in a transaction that occurred on Wednesday, December 15th. The stock was sold at an average price of $4.27, for a total transaction of $76,087.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,433 shares of company stock worth $552,668. Insiders own 7.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Paratek Pharmaceuticals by 0.7% during the third quarter. BlackRock Inc. now owns 2,917,140 shares of the specialty pharmaceutical company’s stock worth $14,177,000 after buying an additional 19,820 shares during the period. Rock Springs Capital Management LP grew its stake in Paratek Pharmaceuticals by 0.6% during the third quarter. Rock Springs Capital Management LP now owns 1,665,014 shares of the specialty pharmaceutical company’s stock worth $8,092,000 after buying an additional 10,300 shares during the period. AIGH Capital Management LLC boosted its stake in shares of Paratek Pharmaceuticals by 74.4% in the third quarter. AIGH Capital Management LLC now owns 1,609,398 shares of the specialty pharmaceutical company’s stock valued at $7,821,000 after purchasing an additional 686,619 shares during the period. General American Investors Co. Inc. boosted its stake in shares of Paratek Pharmaceuticals by 6.9% in the third quarter. General American Investors Co. Inc. now owns 1,112,658 shares of the specialty pharmaceutical company’s stock valued at $5,408,000 after purchasing an additional 71,461 shares during the period. Finally, State Street Corp boosted its stake in shares of Paratek Pharmaceuticals by 8.7% in the second quarter. State Street Corp now owns 749,601 shares of the specialty pharmaceutical company’s stock valued at $5,112,000 after purchasing an additional 59,720 shares during the period. Institutional investors own 48.96% of the company’s stock.

About Paratek Pharmaceuticals

Paratek Pharmaceuticals, Inc engages in the development and commercialization of therapies based upon tetracycline chemistry. Its products include omadacycline and sarecycline, which are used for the treatment of community-acquired bacterial infections, including community-acquired bacterial pneumonia, acute bacterial skin and skin structure infections and urinary tract infections.

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