In a report released today, Ed Arce from H.C. Wainwright maintained a Buy rating on Paratek Pharmaceuticals (NASDAQ: PRTK), with a price target of $55. The company’s shares opened today at $10.90, close to its 52-week low of $9.38.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 21.6% and a 42.5% success rate. Arce covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Avenue Therapeutics Inc.
Currently, the analyst consensus on Paratek Pharmaceuticals is a Strong Buy with an average price target of $41.67, representing a 282.3% upside. In a report issued on August 2, Cantor Fitzgerald also maintained a Buy rating on the stock with a $50 price target.
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Based on Paratek Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $29.73 million. In comparison, last year the company had a GAAP net loss of $18.18 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.
