Proteostasis Therapeutics (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

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 research firms have also commented on PTI. ValuEngine lowered Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, July 8th. Cantor Fitzgerald started coverage on Inovio Pharmaceuticals in a research note on Monday, March 25th. They issued an “overweight” rating and a $3.62 price objective on the stock. Finally, Piper Jaffray Companies boosted their price objective on Beigene to $180.00 and gave the company an “overweight” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.75.

Proteostasis Therapeutics stock opened at $0.91 on Friday. The business’s fifty day moving average is $1.00. Proteostasis Therapeutics has a one year low of $0.90 and a one year high of $10.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.29 and a current ratio of 11.30.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.28) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.11. The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $0.80 million. Equities research analysts expect that Proteostasis Therapeutics will post -1.45 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in Proteostasis Therapeutics by 70.3% in the fourth quarter. Rhumbline Advisers now owns 36,418 shares of the company’s stock valued at $118,000 after purchasing an additional 15,030 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of 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 valued at $81,000 after buying an additional 24,700 shares during the last quarter. BlackRock Inc. grew its stake in shares of Proteostasis Therapeutics by 61.1% during the fourth quarter. BlackRock Inc. now owns 2,920,723 shares of the company’s stock valued at $9,464,000 after buying an additional 1,107,731 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Proteostasis Therapeutics by 331.6% during the fourth quarter. Bank of New York Mellon Corp now owns 268,990 shares of the company’s stock valued at $871,000 after buying an additional 206,672 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Proteostasis Therapeutics by 42.0% during the fourth quarter. Northern Trust Corp now owns 385,756 shares of the company’s stock valued at $1,250,000 after buying an additional 114,173 shares during the last quarter. 60.15% of the stock is currently owned by institutional investors.

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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