In a report issued on June 11, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Paratek Pharmaceuticals (NASDAQ: PRTK), with a price target of $50. The company’s shares opened today at $10.65, close to its 52-week low of $9.85.
“We rate PRTK’s stock as 12-month price target of $50. We like this company because it is well capitalized, derisked with three positive Phase 3 trials (in an oral-only skin trial) and has a diversified pipeline (Omadacycline for cUTI, Sarecycline, etc.). We expect upwards earnings revisions for Omadacycline sales to levels not reflected in consensus expectations to drive Paratek shares higher.”
According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -4.5% and a 40.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Spero Therapeutics Inc, and Revance Therapeutics.
Paratek Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $50.
Based on Paratek Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $27.75 million. In comparison, last year the company had a GAAP net loss of $27.67 million.
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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 serious community-acquired bacterial infections, including community-acquired bacterial pneumonia, acute bacterial skin and skin structure infections, and urinary tract infections. The company was founded in February 2001 and is headquartered in Boston, MA.