Paratek Pharmaceuticals (PRTK): Catalysts Ahead - Guggenheim
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Rating Summary:
10 Buy, 3 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Guggenheim analyst, Louise Chen, reiterated her Buy rating on shares of Paratek Pharmaceuticals (NASDAQ: PRTK) and noted catalysts ahead for the company. PRTK plans to dose the first patient in its oral-only skin study of omadacycline in August. The company recently received affirmation from the FDA on the design of its Phase 3 oral-only ABSSSI study. She expects this study to report top-line data in 2Q17. She estimates omadacycline peak sales of $1B+, which is significantly higher than Street expectations of $100MM+. Unlike other new antibiotics in development, omadacycline can be used in the community in addition to the hospital setting, and accelerated approval of the oral-only indication could mean peak sales being achieved sooner than expected.
For an analyst ratings summary and ratings history on Paratek Pharmaceuticals click here. For more ratings news on Paratek Pharmaceuticals click here.
Shares of Paratek Pharmaceuticals closed at $13.02 yesterday.
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