Paratek Pharmaceuticals (NASDAQ:PRTK) Rating Lowered to Hold at Zacks Investment Research

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Zacks Investment Research downgraded shares of Paratek Pharmaceuticals (NASDAQ:PRTK) from a buy rating to a hold rating in a research report report published on Thursday, 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. “

Several other research analysts have also weighed in on PRTK. ValuEngine raised Paratek Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, August 1st. HC Wainwright set a $27.00 price target on Paratek Pharmaceuticals and gave the company a buy rating in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $17.30.

Shares of NASDAQ PRTK traded down $0.05 during mid-day trading on Thursday, hitting $3.19. 235,385 shares of the company traded hands, compared to its average volume of 350,778. Paratek Pharmaceuticals has a 1 year low of $2.87 and a 1 year high of $9.83. The stock has a market capitalization of $103.79 million, a price-to-earnings ratio of -0.89 and a beta of 1.76. The company has a quick ratio of 11.83, a current ratio of 12.17 and a debt-to-equity ratio of 14.48. The business has a 50 day moving average of $4.16 and a two-hundred day moving average of $4.34.

Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported ($1.02) EPS for the quarter, beating the consensus estimate of ($1.16) by $0.14. Paratek Pharmaceuticals had a negative return on equity of 459.96% and a negative net margin of 597.22%. The business had revenue of $2.05 million during the quarter, compared to the consensus estimate of $1.86 million. As a group, research analysts anticipate that Paratek Pharmaceuticals will post -4.32 EPS for the current year.

In related news, insider Randall B. Brenner sold 7,674 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3.98, for a total transaction of $30,542.52. Following the transaction, the insider now directly owns 91,338 shares of the company’s stock, valued at $363,525.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan Loh sold 7,818 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $3.82, for a total value of $29,864.76. Following the transaction, the chief executive officer now directly owns 439,935 shares in the company, valued at $1,680,551.70. The disclosure for this sale can be found here. Insiders have sold 37,079 shares of company stock worth $145,472 over the last three months. 7.70% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA acquired a new position in Paratek Pharmaceuticals in the 1st quarter worth about $36,000. Bank of Montreal Can increased its position in Paratek Pharmaceuticals by 503.1% in the 2nd quarter. Bank of Montreal Can now owns 7,816 shares of the specialty pharmaceutical company’s stock worth $31,000 after purchasing an additional 6,520 shares during the last quarter. Alambic Investment Management L.P. acquired a new position in Paratek Pharmaceuticals in the 2nd quarter worth about $82,000. A.R.T. Advisors LLC acquired a new position in Paratek Pharmaceuticals in the 2nd quarter worth about $121,000. Finally, Susquehanna International Group LLP increased its position in Paratek Pharmaceuticals by 33.0% in the 2nd quarter. Susquehanna International Group LLP now owns 32,060 shares of the specialty pharmaceutical company’s stock worth $128,000 after purchasing an additional 7,960 shares during the last quarter. 71.26% of the stock is currently owned by institutional investors.

Paratek Pharmaceuticals Company Profile

Paratek Pharmaceuticals, Inc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics based upon biology and 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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