H.C. Wainwright analyst Ed Arce maintained a Buy rating on Paratek Pharmaceuticals (PRTK) yesterday and set a price target of $27. The company’s shares closed last Monday at $4.60.
Arce observed:
“We believe its only a matter of time before further linezolid resistance expands this delta further to statistical superiority for NUZYRA. Two, the study utilized the standard rigorous 10% non-inferiority (NI) margin. Three, across its clinical experience with NUZYRA, Paratek has not observed a single confirmed case of Clostridium difficile infection, which can frequently occur from the use of other classes of broad-spectrum antibiotics such as beta-lactams and quinolones. Four, while NUZYRA has higher rates of nausea and vomiting, mostly over the first two days due to the initial loading dose, linezolid has several serious drug-drug interactions (DDIs) with contraindications on label for monoamine oxidase inhibitors, common blood pressure medications, and potential serotonergic interactions.”
According to TipRanks.com, Arce is a 4-star analyst with an average return of 8.6% and a 36.8% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings Inc, Madrigal Pharmaceuticals Inc, and Arcturus Therapeutics Ltd.
Currently, the analyst consensus on Paratek Pharmaceuticals is a Moderate Buy with an average price target of $35.50.
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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 $33.2 million. In comparison, last year the company had a GAAP net loss of $29.73 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 community-acquired bacterial infections, including community-acquired bacterial pneumonia, acute bacterial skin and skin structure infections and urinary tract infections. The company was founded by Walter Gilbert and Stuart B. Levy in 1996 and is headquartered in Boston, MA.
