Paratek Pharmaceuticals assumed with a Buy at Jefferies

Jefferies analyst Kambiz Yazdi assumed coverage of Paratek Pharmaceuticals with a Buy rating and price target of $5, down from $7. Expectation for a 25% year-over-year Nuzyra core business increase "looks fair" for this year, says the analyst, who anticipates Paratek’s sales in bacterial skin and pneumonia infections will steadily grow to a peak of $300M. The firm says . clinical validation in rare disease M. abscessus is the key catalyst for the shares in the next 12 months. It sees the Phase 2b M. abscessus data in the first half of 2024 as the company’s opportunity to shore up its cash runway and get on the path towards profitability.