Shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) have earned an average rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $14.75.
Several brokerages recently commented on PTI. Royal Bank of Canada began coverage on Proteostasis Therapeutics in a research note on Friday, March 9th. They issued an “outperform” rating and a $11.00 price target for the company. Zacks Investment Research raised Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. ValuEngine raised Proteostasis Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Finally, Leerink Swann upped their target price on Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th.
In other Proteostasis Therapeutics news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $4.88, for a total transaction of $2,459,651.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Meenu Chhabra bought 40,000 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were bought at an average cost of $5.00 per share, with a total value of $200,000.00. Following the transaction, the insider now directly owns 50,218 shares of the company’s stock, valued at $251,090. The disclosure for this purchase can be found here. Insiders have acquired 2,100,000 shares of company stock valued at $10,500,000 in the last ninety days. Company insiders own 17.40% of the company’s stock.
Shares of Proteostasis Therapeutics (NASDAQ PTI) traded up $0.17 during midday trading on Friday, hitting $6.56. The company had a trading volume of 13,241,287 shares, compared to its average volume of 1,659,747. The company has a market cap of $137.08, a PE ratio of -2.95 and a beta of 6.66. Proteostasis Therapeutics has a 1-year low of $1.41 and a 1-year high of $13.16.
About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models.
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