Proteostasis Therapeutics (NASDAQ:PTI)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Thursday. They currently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 88.68% from the stock’s previous close.

The analysts wrote, “Our price target of $15 is based on a probability-adjusted $12 from PTI-428 in F508del CF (12% discount rate, 2% growth rate, in line with the expected discount and growth parameters of a development-stage company) + $3 in cash. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and/or pricing. Proteostasis Therapeutics, Inc.””

A number of other analysts have also weighed in on the stock. Royal Bank of Canada raised shares of Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a research report on Thursday. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Proteostasis Therapeutics presently has an average rating of “Buy” and an average price target of $12.25.

Proteostasis Therapeutics stock opened at $7.95 on Thursday. Proteostasis Therapeutics has a 1-year low of $1.41 and a 1-year high of $10.38. The stock has a market capitalization of $69.36 million, a P/E ratio of -3.36 and a beta of 3.93.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.43) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.04). Proteostasis Therapeutics had a negative return on equity of 96.44% and a negative net margin of 1,086.77%. The firm had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $1.16 million. As a group, equities research analysts predict that Proteostasis Therapeutics will post -2.01 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Northern Trust Corp increased its position in shares of Proteostasis Therapeutics by 82.2% during the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock worth $204,000 after acquiring an additional 19,416 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of 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 acquiring an additional 28,600 shares during the period. Element Capital Management LLC purchased a new position in shares of Proteostasis Therapeutics during the first quarter worth approximately $158,000. Bayesian Capital Management LP purchased a new position in shares of Proteostasis Therapeutics during the first quarter worth approximately $159,000. Finally, Jennison Associates LLC increased its position in shares of Proteostasis Therapeutics by 1.2% during the second quarter. Jennison Associates LLC now owns 3,663,710 shares of the company’s stock worth $10,222,000 after acquiring an additional 41,856 shares during the period. 64.58% of the stock is currently owned by institutional investors and hedge funds.

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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