Zacks Investment Research cut shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada upgraded Proteostasis Therapeutics from a sector perform rating to an outperform rating in a research note on Thursday, October 18th. HC Wainwright reiterated a buy rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. ValuEngine upgraded Proteostasis Therapeutics from a hold rating to a buy rating in a research note on Thursday, October 18th. Cantor Fitzgerald reissued a buy rating and set a $21.00 target price on shares of Proteostasis Therapeutics in a research report on Monday, December 17th. Finally, Piper Jaffray Companies initiated coverage on Proteostasis Therapeutics in a research report on Monday, October 29th. They set an overweight rating and a $14.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. Proteostasis Therapeutics has an average rating of Hold and a consensus price target of $12.80.

Shares of PTI traded up $0.22 during midday trading on Wednesday, hitting $3.93. The company had a trading volume of 1,149,866 shares, compared to its average volume of 759,737. The stock has a market capitalization of $135.41 million, a PE ratio of -1.68 and a beta of -0.84. Proteostasis Therapeutics has a 1 year low of $1.71 and a 1 year high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Tuesday, November 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.04). The company had revenue of $1.06 million during the quarter, compared to analysts’ expectations of $0.83 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 104.17%. Research analysts forecast that Proteostasis Therapeutics will post -1.68 EPS for the current fiscal year.

In other Proteostasis Therapeutics news, Director Franklin M. Berger bought 40,000 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were acquired at an average price of $6.75 per share, with a total value of $270,000.00. Following the transaction, the director now owns 266,162 shares of the company’s stock, valued at $1,796,593.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 19.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in Proteostasis Therapeutics by 156.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after buying an additional 28,600 shares during the period. Bank of New York Mellon Corp increased its position in Proteostasis Therapeutics by 252.8% during the second quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock worth $174,000 after buying an additional 44,653 shares during the period. Baird Financial Group Inc. acquired a new position in Proteostasis Therapeutics during the third quarter worth approximately $213,000. Northern Trust Corp increased its position in Proteostasis Therapeutics by 526.1% during the second quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock worth $752,000 after buying an additional 226,417 shares during the period. Finally, BlackRock Inc. increased its position in Proteostasis Therapeutics by 3,693.4% during the second quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock worth $5,043,000 after buying an additional 1,760,063 shares during the period. 63.03% of the stock is currently owned by institutional investors and hedge funds.

Proteostasis Therapeutics Company Profile

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.

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