Partaking of Paratek

Another chart winner. Back when Kodak (KODK) announced it won a contract to make pharmaceutical precursors, I went searching for pure-play stocks in this space. I didn't find anything attractive on the public markets. I did come across a company making antibiotics in the USA: Paratek (PRTK).

News out yesterday: Billionaire David Shaw Pours Money Into 3 “Strong Buy” Stocks

Shaw is among those cheering the company. Increasing its stake by 82%, D.E. Shaw bought up 457,341 shares in the second quarter. Following the purchase, the fund’s total PRTK position lands at 1,018,465 shares and is worth $4,267,368.

Writing for H.C. Wainwright, 5-star analyst Ed Arce cites NUZYRA’s performance as a key component of his bullish thesis, noting that the company's therapy is “already on track to be one of the most successful antibiotic launches of the last decade.” The asset is a tetracycline-class antibacterial designed as a treatment for community-acquired bacterial pneumonia (CABP) and acute bacterial skin and skin structure infections (ABSSSI).

I bought this one because I like that they manufacture basic drugs in the USA, plus they have a good basing pattern. There's a lot of resistance up to $10 per share, but the base completes around $6. The real upside would be if it can make it past $10 per share. I only have a starter position in this stock.