Leerink Swann Reiterates a Buy Rating on Paratek Pharmaceuticals

By Carrie Williams

In a report released yesterday, Paul Matteis from Leerink Swann reiterated a Buy rating on Paratek Pharmaceuticals (NASDAQ: PRTK), with a price target of $23. The company’s shares opened today at $10.65, close to its 52-week low of $9.80.

Matteis wrote:

“We are updating our model to reflect 3Q16 results and we continue to recommend PRTK shares ahead of a handful of clinical catalyst during the next 12 months.”

According to TipRanks.com, Matteis is a 1-star analyst with an average return of -4.5% and a 40.0% success rate. Matteis covers the Healthcare sector, focusing on stocks such as Aquinox Pharmaceuticals, ACADIA Pharmaceuticals, and Theravance Biopharma.

Currently, the analyst consensus on Paratek Pharmaceuticals is Strong Buy and the average price target is $33, representing a 209.9% upside.

In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $28 price target.

The company has a one year high of $22 and a one year low of $9.80. Currently, Paratek Pharmaceuticals has an average volume of 122.2K.

Paratek Pharmaceuticals, Inc. is a biopharmaceutical company focused on the development and commercialization of innovative therapies based upon its expertise in novel tetracycline chemistry. Its products include Omadacycline and Sarecycline. The company was founded in February 2001 and is headquartered in Boston, MA.