Leerink Partners Resumes Paratek Pharmaceuticals (PRTK) at Outperform
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Leerink Partners resumes coverage on Paratek Pharmaceuticals (NASDAQ: PRTK) with a Outperform rating and a price target of $23.00.
Analyst Paul Matteis commented, "We see a positive risk/reward for PRTK shares ahead of a collection of clinical catalysts during the next 12 months. Most importantly, our work has rendered us optimistic on the odds of success for lead product Omadacycline (OMC) in Community Acquired Bacterial Pneumonia (CABP); our 70% probability of approval is supported by: (1) Omadacycline's strong in vitro activity against key pathogens in FDA pneumonia guidelines, (2) favorable pharmacokinetics (PK) that predict efficacy via a high "AUC/MIC90" ratio, (3) bioequivalence of IV and oral formulations, (4) recent success in ABSSI where favorable PK predicting efficacy translated to clinical outcomes and (5) prior efficacy of Tygacil (also a tetracycline) in CABP. Meanwhile, other indications, including Urinary Tract Infection (UTI), while riskier, could offer upside to the stock over time. MEDACorp specialists note that unmet need is very significant in UTI, where early PhI PK/PD data are expected by YE16."
Shares of Paratek Pharmaceuticals closed at $11.55 yesterday.
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