Proteostasis Therapeutics (NASDAQ:PTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Proteostasis Therapeutics, Inc. is a biopharmaceutical company which focuses on the discovery and development of novel therapeutics to treat diseases caused by an imbalance in the proteostasis network primarily in the United States. Proteostasis Therapeutics, Inc. is based in Cambridge, Massachusetts. “
A number of other equities analysts have also recently issued reports on PTI. Robert W. Baird boosted their price objective on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Leerink Swann boosted their price target on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Finally, ValuEngine cut shares of Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.00.
Proteostasis Therapeutics (NASDAQ PTI) opened at $3.11 on Wednesday. Proteostasis Therapeutics has a 52-week low of $1.41 and a 52-week high of $16.67.
Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.16. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%. The firm had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.38 million. equities research analysts expect that Proteostasis Therapeutics will post -2.5 earnings per share for the current fiscal year.
In related news, major shareholder Enterprise Associates 12 New purchased 2,000,000 shares of Proteostasis Therapeutics stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average price of $5.00 per share, for a total transaction of $10,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $4.88, for a total transaction of $2,459,651.76. The disclosure for this sale can be found here. Insiders have purchased 2,100,000 shares of company stock worth $10,500,000 in the last quarter. 17.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jefferies Group LLC purchased a new stake in Proteostasis Therapeutics in the fourth quarter worth about $175,000. Jane Street Group LLC purchased a new stake in Proteostasis Therapeutics in the fourth quarter worth about $203,000. Goldman Sachs Group Inc. grew its holdings in Proteostasis Therapeutics by 364.3% in the second quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after purchasing an additional 40,731 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Proteostasis Therapeutics in the second quarter worth about $296,000. Finally, FMR LLC grew its holdings in Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after purchasing an additional 66,111 shares during the period. Institutional investors and hedge funds own 55.15% of the company’s stock.
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About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models.
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