Zacks Investment Research upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a sell rating to a hold rating in a research note released on Saturday.
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. “
Separately, Royal Bank of Canada lowered Proteostasis Therapeutics from an outperform rating to a sector perform rating and cut their target price for the company from $11.00 to $5.00 in a research note on Thursday, June 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Proteostasis Therapeutics has an average rating of Hold and an average target price of $12.25.
Proteostasis Therapeutics (NASDAQ:PTI) last released its earnings results on Wednesday, August 8th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.04). Proteostasis Therapeutics had a negative net margin of 1,086.77% and a negative return on equity of 96.44%. analysts anticipate that Proteostasis Therapeutics will post -2.01 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in PTI. Trexquant Investment LP acquired a new position in Proteostasis Therapeutics in the first quarter valued at about $149,000. Northern Trust Corp lifted its stake in Proteostasis Therapeutics by 82.2% in the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock valued at $204,000 after buying an additional 19,416 shares during the period. Tibra Equities Europe Ltd acquired a new position in Proteostasis Therapeutics in the first quarter valued at about $252,000. Lord Abbett & CO. LLC acquired a new position in Proteostasis Therapeutics in the first quarter valued at about $2,285,000. Finally, Bayesian Capital Management LP acquired a new position in Proteostasis Therapeutics in the first quarter valued at about $159,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.
Proteostasis Therapeutics Company Profile
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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