Proteostasis Therapeutics (PTI) Downgraded to “Sell” at Zacks Investment Research

Proteostasis Therapeutics (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, January 18th.

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. “

Several other equities research analysts have also commented on PTI. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Proteostasis Therapeutics in a research note on Tuesday, December 19th. ValuEngine cut Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Leerink Swann upped their price objective on Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday, December 12th. Finally, Robert W. Baird upped 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. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $16.00.

Proteostasis Therapeutics (PTI) opened at $3.01 on Thursday. The stock has a market capitalization of $99.67 and a PE ratio of -1.36. 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 issued its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.38 million. research analysts anticipate that Proteostasis Therapeutics will post -2.5 earnings per share for the current year.

In other news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Enterprise Associates 12 New bought 2,000,000 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were acquired at an average price of $5.00 per share, with a total value of $10,000,000.00. The disclosure for this purchase can be found here. Insiders have bought 2,100,000 shares of company stock worth $10,500,000 in the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP acquired a new stake in Proteostasis Therapeutics in the second quarter valued at about $254,000. FMR LLC increased its holdings in Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after buying an additional 66,111 shares in the last quarter. Bain Capital Public Equity Management LLC purchased a new position in Proteostasis Therapeutics in the second quarter valued at about $1,233,000. Jennison Associates LLC increased its holdings in Proteostasis Therapeutics by 53.5% in the fourth quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock valued at $18,530,000 after buying an additional 1,107,496 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Proteostasis Therapeutics in the second quarter valued at about $296,000. Hedge funds and other institutional investors own 55.15% of the company’s stock.

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Proteostasis Therapeutics Company Profile

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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