Zacks Investment Research upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a sell rating to a hold rating in a research report report published 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 shares of Proteostasis Therapeutics from an outperform rating to a sector perform rating and lowered their target price for the stock from $11.00 to $5.00 in a research note on Thursday, June 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Proteostasis Therapeutics has a consensus rating of Hold and a consensus price target of $12.25.
Shares of PTI stock opened at $2.23 on Friday. The stock has a market cap of $88.07 million, a price-to-earnings ratio of -0.95 and a beta of 3.86. Proteostasis Therapeutics has a 1-year low of $1.41 and a 1-year high of $8.61.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its earnings results on Wednesday, August 8th. The company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.04). Proteostasis Therapeutics had a negative return on equity of 96.44% and a negative net margin of 1,086.77%. equities analysts forecast that Proteostasis Therapeutics will post -2.01 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its position in shares of Proteostasis Therapeutics by 82.2% during the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock worth $204,000 after purchasing an additional 19,416 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Proteostasis Therapeutics by 156.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after purchasing an additional 28,600 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Proteostasis Therapeutics during the first quarter worth about $149,000. Element Capital Management LLC acquired a new stake in shares of Proteostasis Therapeutics during the first quarter worth about $158,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Proteostasis Therapeutics during the first quarter worth about $159,000. 64.58% of the stock is currently owned by institutional investors and hedge funds.
About Proteostasis Therapeutics
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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