Zacks Investment Research downgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a sell rating in a research note published on Wednesday morning.
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 also recently issued reports on PTI. BidaskClub downgraded shares of Proteostasis Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, November 13th. Royal Bank of Canada raised shares of Proteostasis Therapeutics from a sector perform rating to an outperform rating in a research report on Thursday, October 18th. Piper Jaffray Companies started coverage on shares of Proteostasis Therapeutics in a research report on Monday, October 29th. They set an overweight rating and a $14.00 target price for the company. ValuEngine raised shares of Proteostasis Therapeutics from a hold rating to a buy rating in a research report on Thursday, October 18th. Finally, HC Wainwright reissued a buy rating and set a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $13.86.
Proteostasis Therapeutics (NASDAQ:PTI) last posted its earnings results on Tuesday, November 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.04). The business had revenue of $1.06 million for the quarter, compared to analyst estimates of $0.83 million. Proteostasis Therapeutics had a negative return on equity of 104.17% and a negative net margin of 1,307.84%. As a group, equities analysts forecast that Proteostasis Therapeutics will post -1.84 earnings per share for the current year.
In other Proteostasis Therapeutics news, Director Franklin M. Berger bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average price of $6.75 per share, with a total value of $270,000.00. Following the transaction, the director now owns 266,162 shares in the company, valued at $1,796,593.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 19.80% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in Proteostasis Therapeutics in the second quarter valued at approximately $141,000. Bailard Inc. grew its position in Proteostasis Therapeutics by 12.0% in the second quarter. Bailard Inc. now owns 582,400 shares of the company’s stock valued at $1,625,000 after acquiring an additional 62,300 shares in the last quarter. BlackRock Inc. grew its position in Proteostasis Therapeutics by 3,693.4% in the second quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock valued at $5,043,000 after acquiring an additional 1,760,063 shares in the last quarter. Jennison Associates LLC grew its position in Proteostasis Therapeutics by 0.7% in the third quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock valued at $8,893,000 after acquiring an additional 26,428 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Proteostasis Therapeutics by 156.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock valued at $131,000 after acquiring an additional 28,600 shares in the last quarter. 63.03% of the stock is owned by 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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