UPDATE: Jefferies Starts Paratek Pharmaceuticals (PRTK) at Buy, Sees 100%+ Upside
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Jefferies analyst Eun Yang initiates coverage on Paratek Pharmaceuticals (NASDAQ: PRTK) with a Buy rating and a price target of $15.00.
The analyst commented, "PRTK's Nuzyra launched in 2019 for serious skin infection & community-acquired pneumonia in hospital pts that fail generic tx. We expect expansion into the community setting in 2021 to fuel sales growth to ~$300M in '28 ($39M in '20). Nuzyra is also being tested in M. abscessus infection (no approved tx, ~$1B US mkt), providing further upside if successful. With anticipated sales growth & potential label expansion, we view current share price offers good value."
Shares of Paratek Pharmaceuticals closed at $7.16 yesterday.
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