Zacks Investment Research cut shares of Paratek Pharmaceuticals (NASDAQ:PRTK) from a buy rating to a hold rating in a report released on Saturday.
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. “
Other analysts also recently issued reports about the company. ValuEngine downgraded Paratek Pharmaceuticals from a sell rating to a strong sell rating in a report on Friday, February 2nd. Robert W. Baird restated a buy rating and issued a $40.00 price objective on shares of Paratek Pharmaceuticals in a report on Tuesday, October 24th. Guggenheim began coverage on Paratek Pharmaceuticals in a report on Tuesday, October 24th. They issued a buy rating and a $44.00 price objective for the company. Cantor Fitzgerald set a $50.00 price objective on Paratek Pharmaceuticals and gave the company a buy rating in a report on Wednesday, January 3rd. Finally, BidaskClub downgraded Paratek Pharmaceuticals from a sell rating to a strong sell rating in a report on Saturday, December 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, six have issued 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 target price of $39.38.
In other Paratek Pharmaceuticals news, Director Robert S. Radie sold 3,000 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $14.22, for a total transaction of $42,660.00. Following the completion of the sale, the director now directly owns 9,330 shares in the company, valued at approximately $132,672.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Adam Woodrow sold 14,333 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $13.87, for a total value of $198,798.71. Following the sale, the vice president now owns 62,367 shares of the company’s stock, valued at $865,030.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,664 shares of company stock valued at $573,226. Company insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Paratek Pharmaceuticals during the 4th quarter worth about $185,000. LPL Financial LLC grew its holdings in Paratek Pharmaceuticals by 13.0% during the 4th quarter. LPL Financial LLC now owns 44,575 shares of the specialty pharmaceutical company’s stock worth $798,000 after acquiring an additional 5,125 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Paratek Pharmaceuticals by 43.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 91,711 shares of the specialty pharmaceutical company’s stock worth $1,642,000 after acquiring an additional 27,796 shares during the period. Raymond James & Associates grew its holdings in Paratek Pharmaceuticals by 109.6% during the 4th quarter. Raymond James & Associates now owns 24,157 shares of the specialty pharmaceutical company’s stock worth $432,000 after acquiring an additional 12,632 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in Paratek Pharmaceuticals by 47.7% during the 4th quarter. Guggenheim Capital LLC now owns 71,665 shares of the specialty pharmaceutical company’s stock worth $1,284,000 after acquiring an additional 23,142 shares during the period. Hedge funds and other institutional investors own 74.55% of the company’s stock.
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Paratek Pharmaceuticals Company Profile
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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