HC Wainwright Reiterates “Buy” Rating for Proteostasis Therapeutics (NASDAQ:PTI)

Proteostasis Therapeutics (NASDAQ:PTI)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Tuesday, December 19th. They presently have a $15.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 186.26% from the stock’s current price.

PTI has been the subject of several other reports. Robert W. Baird lifted their target price on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. Zacks Investment Research lowered shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 18th. Finally, Leerink Swann lifted their target price on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $16.00.

Proteostasis Therapeutics (NASDAQ PTI) traded down $0.22 during trading on Tuesday, reaching $5.24. The company’s stock had a trading volume of 1,350,000 shares, compared to its average volume of 2,200,000. The company has a market cap of $173.51 and a PE ratio of -2.37. Proteostasis Therapeutics has a fifty-two week low of $1.41 and a fifty-two week high of $16.67.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.16. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. The business had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.38 million. research analysts forecast that Proteostasis Therapeutics will post -2.47 earnings per share for the current fiscal year.

In other Proteostasis Therapeutics news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $4.88, for a total transaction of $2,459,651.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Franklin M. Berger bought 60,000 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were bought at an average price of $5.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now owns 266,162 shares in the company, valued at approximately $1,330,810. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 2,100,000 shares of company stock valued at $10,500,000. 17.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new stake in Proteostasis Therapeutics during the 2nd quarter valued at $254,000. Jennison Associates LLC grew its position in shares of Proteostasis Therapeutics by 6.2% during the 2nd quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock valued at $9,713,000 after acquiring an additional 120,575 shares during the period. FMR LLC grew its position in shares of Proteostasis Therapeutics by 2.3% during the 2nd quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after acquiring an additional 66,111 shares during the period. Bain Capital Public Equity Management LLC bought a new stake in shares of Proteostasis Therapeutics during the 2nd quarter valued at $1,233,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Proteostasis Therapeutics during the 2nd quarter valued at $296,000. Institutional investors and hedge funds own 51.80% of the company’s stock.

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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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