Proteostasis Therapeutics (NASDAQ:PTI) Cut to Hold at Zacks Investment Research
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. “
PTI has been the topic of a number of other reports. Piper Jaffray Companies boosted their target price on Beigene to $180.00 and gave the stock an overweight rating in a research report on Thursday, May 9th. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th. Finally, Cantor Fitzgerald started coverage on Inovio Pharmaceuticals in a research report on Monday, March 25th. They set an overweight rating and a $3.62 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Proteostasis Therapeutics presently has a consensus rating of Hold and an average price target of $9.63.
Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.39) by $0.11. The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.80 million. On average, equities analysts anticipate that Proteostasis Therapeutics will post -1.45 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in Proteostasis Therapeutics during the fourth quarter worth $41,000. Virtu Financial LLC purchased a new stake in Proteostasis Therapeutics during the first quarter worth $25,000. American International Group Inc. boosted its position in Proteostasis Therapeutics by 32.9% during the fourth quarter. American International Group Inc. now owns 22,574 shares of the company’s stock worth $73,000 after purchasing an additional 5,593 shares in the last quarter. New York State Common Retirement Fund boosted its position in Proteostasis Therapeutics by 6,175.0% during the fourth quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after purchasing an additional 24,700 shares in the last quarter. Finally, Barclays PLC boosted its position in Proteostasis Therapeutics by 113.3% during the fourth quarter. Barclays PLC now owns 34,398 shares of the company’s stock worth $112,000 after purchasing an additional 18,271 shares in the last quarter. Institutional investors own 60.15% of the company’s stock.
About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.
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