Cantor Fitzgerald reissued their buy rating on shares of Proteostasis Therapeutics (NASDAQ:PTI) in a research report sent to investors on Monday morning. They currently have a $14.00 price objective on the stock.

“: We reiterate our OW rating and are lowering out 12-month PT to $14 from $21 on Proteostasis (due to lowering the probability of success on the program from 55% to 40%). This morning, the company announced and hosted a conference call to provide results from the low- and high-dose data from the triplet (PTI-801/808/428) trial. Additionally, the company announced data from the combination studies of on top of SYMDEKO. We feel the results were inferior to our projections, but believe data by year-end 2019 could make the case whether PTI’s internal drugs could be a competitive entrant in cystic fibrosis (CF).”,” Cantor Fitzgerald’s analyst wrote.

Several other analysts also recently weighed in on the company. ValuEngine downgraded Proteostasis Therapeutics from a buy rating to a hold rating in a report on Friday, December 21st. Zacks Investment Research raised Proteostasis Therapeutics from a sell rating to a hold rating in a report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $10.50.

Proteostasis Therapeutics stock opened at $1.24 on Monday. Proteostasis Therapeutics has a fifty-two week low of $1.22 and a fifty-two week high of $10.38. The stock has a market capitalization of $63.29 million, a PE ratio of -0.77 and a beta of -0.81.

In other Proteostasis Therapeutics news, insider Meenu Chhabra sold 16,478 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $2.99, for a total transaction of $49,269.22. Following the completion of the sale, the insider now directly owns 97,093 shares of the company’s stock, valued at approximately $290,308.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.80% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can raised its stake in shares of Proteostasis Therapeutics by 8,649.2% during the 4th quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock worth $51,000 after buying an additional 15,309 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Proteostasis Therapeutics during the 4th quarter worth approximately $37,000. JGP Global Gestao de Recursos Ltda. purchased a new position in shares of Proteostasis Therapeutics during the 4th quarter worth approximately $64,000. venBio Select Advisor LLC purchased a new position in shares of Proteostasis Therapeutics during the 4th quarter worth approximately $4,212,000. Finally, Baird Financial Group Inc. purchased a new position in shares of Proteostasis Therapeutics during the 3rd quarter worth approximately $213,000. 78.36% of the stock is owned by hedge funds and other institutional investors.

About Proteostasis Therapeutics

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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