Zacks Investment Research upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $8.25 price target on the stock.
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. “
PTI has been the subject of several other research reports. ValuEngine raised Proteostasis Therapeutics from a strong sell rating to a sell rating in a report on Friday, February 2nd. Royal Bank of Canada started coverage on Proteostasis Therapeutics in a report on Friday, March 9th. They issued an outperform rating and a $11.00 price objective for the company. HC Wainwright reissued a buy rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a report on Tuesday, December 19th. Leerink Swann boosted their price objective on Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday, December 12th. Finally, Robert W. Baird boosted their price objective on Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an outperform rating in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $13.45.
Several hedge funds have recently modified their holdings of the company. J. Goldman & Co LP lifted its holdings in shares of Proteostasis Therapeutics by 1,900.2% in the 4th quarter. J. Goldman & Co LP now owns 550,043 shares of the company’s stock valued at $3,207,000 after buying an additional 522,543 shares during the period. Endurant Capital Management LP acquired a new position in Proteostasis Therapeutics in the 4th quarter worth about $2,828,000. Jane Street Group LLC acquired a new position in Proteostasis Therapeutics in the 4th quarter worth about $203,000. Millennium Management LLC raised its holdings in Proteostasis Therapeutics by 434.2% in the 4th quarter. Millennium Management LLC now owns 953,513 shares of the company’s stock worth $5,559,000 after purchasing an additional 775,019 shares during the period. Finally, Bain Capital Public Equity Management LLC raised its holdings in Proteostasis Therapeutics by 124.9% in the 4th quarter. Bain Capital Public Equity Management LLC now owns 828,916 shares of the company’s stock worth $4,833,000 after purchasing an additional 460,326 shares during the period. 70.48% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: “Proteostasis Therapeutics (PTI) Upgraded to “Buy” by Zacks Investment Research” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3294845/proteostasis-therapeutics-pti-upgraded-to-buy-by-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.