Paratek Pharmaceuticals (PRTK) Stock Price Down 11.1%

Paratek Pharmaceuticals Inc (NASDAQ:PRTK)’s share price dropped 11.1% during mid-day trading on Monday . The company traded as low as $10.30 and last traded at $10.31. Approximately 1,390,517 shares changed hands during trading, an increase of 123% from the average daily volume of 624,926 shares. The stock had previously closed at $11.60.

PRTK has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $50.00 price target on Paratek Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, June 11th. Zacks Investment Research cut Paratek Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Wedbush set a $20.00 price target on Paratek Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, August 9th. Bank of America initiated coverage on Paratek Pharmaceuticals in a report on Monday, August 27th. They set a “neutral” rating and a $13.00 price target on the stock. Finally, ValuEngine upgraded Paratek Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $31.50.

The company has a debt-to-equity ratio of 2.37, a current ratio of 7.88 and a quick ratio of 7.88. The firm has a market capitalization of $307.78 million, a PE ratio of -3.12 and a beta of 0.57.

Paratek Pharmaceuticals (NASDAQ:PRTK) last issued its earnings results on Thursday, August 2nd. The specialty pharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.02). Paratek Pharmaceuticals had a negative return on equity of 106.39% and a negative net margin of 1,961.41%. The firm had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.10 million. On average, equities analysts expect that Paratek Pharmaceuticals Inc will post -3.41 EPS for the current year.

In related news, Chairman Michael Bigham sold 16,313 shares of the stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $9.82, for a total value of $160,193.66. Following the transaction, the chairman now directly owns 213,480 shares in the company, valued at approximately $2,096,373.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Evan Loh sold 8,861 shares of the stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $9.82, for a total value of $87,015.02. Following the completion of the transaction, the chief operating officer now owns 235,286 shares in the company, valued at $2,310,508.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,503 shares of company stock worth $407,559. 6.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Paratek Pharmaceuticals by 27.3% during the 2nd quarter. BlackRock Inc. now owns 2,583,390 shares of the specialty pharmaceutical company’s stock valued at $26,350,000 after acquiring an additional 554,545 shares in the last quarter. Highland Capital Management LP lifted its stake in Paratek Pharmaceuticals by 99.9% during the 2nd quarter. Highland Capital Management LP now owns 1,917,878 shares of the specialty pharmaceutical company’s stock valued at $19,562,000 after acquiring an additional 958,600 shares in the last quarter. C WorldWide Group Holding A S lifted its stake in Paratek Pharmaceuticals by 7.6% during the 2nd quarter. C WorldWide Group Holding A S now owns 536,128 shares of the specialty pharmaceutical company’s stock valued at $5,469,000 after acquiring an additional 37,875 shares in the last quarter. Royce & Associates LP lifted its stake in Paratek Pharmaceuticals by 6.0% during the 2nd quarter. Royce & Associates LP now owns 412,869 shares of the specialty pharmaceutical company’s stock valued at $4,211,000 after acquiring an additional 23,200 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Paratek Pharmaceuticals by 13.1% during the 2nd quarter. Northern Trust Corp now owns 408,846 shares of the specialty pharmaceutical company’s stock valued at $4,170,000 after acquiring an additional 47,440 shares in the last quarter. Institutional investors own 77.31% of the company’s stock.

About Paratek Pharmaceuticals (NASDAQ:PRTK)

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