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H.C. Wainwright Reiterates Buy Rating, $20 on Paratek Pharmaceuticals (PRTK) on NUZYRA's Fast-Track Designation

June 22, 2022 6:08 AM EDT
Get Alerts PRTK Hot Sheet
Price: $2.16 -3.14%

Rating Summary:
    12 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 31 | New: 13
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H.C. Wainwright analyst Ed Arce reiterated a Buy rating and $20.00 price target on Paratek Pharmaceuticals (NASDAQ: PRTK), after the company announced it received FDA Fast Track Designation for NUZYRA in NTM.

The analyst comments: "Our price target on PRTK shares is supported by our rNPV model that is driven primarily by $11.65 per share for U.S. sales of NUZYRA for ABSSSI and CABP (in both the hospital and community settings) through 2031E (peak sales of over $444M in 2027; zero terminal value) and $5.84 for share for NTM (peak sales $723M in 2030), discounted at 13.5%. We also include $2.11 per share for the future procurement of NUZYRA by BARDA, and $0.53 per share for royalties on U.S. net sales of SEYSARA by partner Almirall, S.A. (BME: ALM; not rated) through 2031E. Risks to the attainment of our PT include, among others, commercial risk of missing guided sales targets; failed or equivocal clinical trial results in NTM; unforeseen safety and/ or tolerability issues; and dilution to current shareholders from additional equity offering(s)."

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 $1.89 yesterday.

By Vlad Schepkov



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Equity Offerings, H.C. Wainwright, Ed Arce, FDA, Vlad Schepkov