Zacks: Brokerages Expect Proteostasis Therapeutics Inc (PTI) to Post -$0.65 EPS

Equities analysts expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to report earnings per share of ($0.65) for the current quarter, Zacks reports. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.61) and the lowest estimate coming in at ($0.72). Proteostasis Therapeutics posted earnings per share of ($0.38) during the same quarter last year, which would suggest a negative year over year growth rate of 71.1%. The company is scheduled to issue its next quarterly earnings report on Thursday, March 29th.

On average, analysts expect that Proteostasis Therapeutics will report full-year earnings of ($2.47) per share for the current financial year, with EPS estimates ranging from ($2.56) to ($2.40). For the next year, analysts forecast that the firm will post earnings of ($2.34) per share, with EPS estimates ranging from ($2.82) to ($1.89). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.16. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%. The business had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.38 million.

PTI has been the topic of a number of research analyst reports. ValuEngine cut shares of Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research note on Tuesday, December 19th. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, January 18th. Leerink Swann boosted their target price on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research note on Tuesday, December 12th. Finally, Robert W. Baird boosted their target price on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research note 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 stock presently has an average rating of “Hold” and an average price target of $16.00.

Proteostasis Therapeutics (NASDAQ:PTI) traded up $0.20 during trading on Friday, reaching $4.49. 154,308 shares of the company traded hands, compared to its average volume of 642,117. Proteostasis Therapeutics has a 1-year low of $1.41 and a 1-year high of $16.67. The stock has a market capitalization of $142.05, a PE ratio of -2.02 and a beta of 9.36.

In related 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Enterprise Associates 12 New purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average price of $5.00 per share, for a total transaction of $10,000,000.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,100,000 shares of company stock worth $10,500,000 over the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of PTI. Goldman Sachs Group Inc. increased its holdings in Proteostasis Therapeutics by 364.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after acquiring an additional 40,731 shares during the period. Susquehanna International Group LLP bought a new position in shares of Proteostasis Therapeutics in the 2nd quarter worth $254,000. Dimensional Fund Advisors LP bought a new position in shares of Proteostasis Therapeutics in the 2nd quarter worth $296,000. Sabby Management LLC increased its holdings in shares of Proteostasis Therapeutics by 109.6% in the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after buying an additional 65,451 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Proteostasis Therapeutics by 425.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock worth $2,361,000 after buying an additional 910,550 shares during the last quarter. 51.80% of the stock is currently owned by institutional investors and hedge funds.

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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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