$7.5 Million in Sales Expected for Paratek Pharmaceuticals Inc (PRTK) This Quarter

Equities research analysts expect that Paratek Pharmaceuticals Inc (NASDAQ:PRTK) will announce sales of $7.5 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Paratek Pharmaceuticals’ earnings. The company is expected to issue its next earnings results on Thursday, August 3rd.

According to Zacks, analysts expect that Paratek Pharmaceuticals will report full-year sales of $7.5 million for the current fiscal year, with estimates ranging from $3.35 million to $12.52 million. For the next year, analysts forecast that the firm will report sales of $9 million per share, with estimates ranging from $600,000.00 to $14.68 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Paratek Pharmaceuticals.

Paratek Pharmaceuticals (NASDAQ:PRTK) last announced its quarterly earnings data on Thursday, May 4th. The specialty pharmaceutical company reported ($1.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.20) by $0.06. The firm had revenue of $0.02 million during the quarter.

Several research firms recently issued reports on PRTK. Cantor Fitzgerald set a $33.00 price objective on Paratek Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, May 4th. BTIG Research upped their price objective on Paratek Pharmaceuticals from $47.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. Guggenheim set a $38.00 price objective on Paratek Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, April 4th. Robert W. Baird reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Paratek Pharmaceuticals in a research report on Tuesday, April 4th. Finally, HC Wainwright upped their price objective on Paratek Pharmaceuticals from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.89.

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Several institutional investors have recently added to or reduced their stakes in PRTK. State Street Corp boosted its position in Paratek Pharmaceuticals by 21.5% in the fourth quarter. State Street Corp now owns 238,092 shares of the specialty pharmaceutical company’s stock valued at $3,668,000 after buying an additional 42,117 shares during the last quarter. Norges Bank purchased a new position in Paratek Pharmaceuticals during the fourth quarter valued at $1,486,000. Candriam Luxembourg S.C.A. purchased a new position in Paratek Pharmaceuticals during the first quarter valued at $2,310,000. Rock Springs Capital Management LP boosted its position in Paratek Pharmaceuticals by 20.1% in the third quarter. Rock Springs Capital Management LP now owns 502,500 shares of the specialty pharmaceutical company’s stock valued at $6,538,000 after buying an additional 84,000 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in Paratek Pharmaceuticals by 15.6% in the first quarter. Essex Investment Management Co. LLC now owns 51,426 shares of the specialty pharmaceutical company’s stock valued at $990,000 after buying an additional 6,939 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Paratek Pharmaceuticals (NASDAQ:PRTK) traded up 0.22% during midday trading on Wednesday, reaching $22.60. The company’s stock had a trading volume of 112,991 shares. Paratek Pharmaceuticals has a 52-week low of $9.80 and a 52-week high of $25.00. The stock’s market cap is $621.16 million. The stock has a 50-day moving average price of $20.49 and a 200-day moving average price of $15.86.

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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