ValuEngine Upgrades Proteostasis Therapeutics (PTI) to Buy

Proteostasis Therapeutics (NASDAQ:PTI) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other research analysts have also issued reports on PTI. Zacks Investment Research lowered Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Proteostasis Therapeutics in a report on Thursday. Finally, Royal Bank of Canada upgraded Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $12.25.

Shares of Proteostasis Therapeutics stock traded up $8.46 on Thursday, hitting $10.35. 94,234,400 shares of the company’s stock traded hands, compared to its average volume of 1,449,483. Proteostasis Therapeutics has a one year low of $1.41 and a one year high of $10.38. The firm has a market cap of $88.44 million, a price-to-earnings ratio of -4.42 and a beta of 3.94.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.04). The firm had revenue of $0.84 million during the quarter, compared to the consensus estimate of $1.16 million. Proteostasis Therapeutics had a negative return on equity of 96.44% and a negative net margin of 1,086.77%. On average, analysts predict that Proteostasis Therapeutics will post -2.01 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of PTI. Northern Trust Corp lifted its holdings in shares of Proteostasis Therapeutics by 82.2% in the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock valued at $204,000 after purchasing an additional 19,416 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Proteostasis Therapeutics in the first quarter valued at approximately $2,285,000. Bayesian Capital Management LP bought a new position in shares of Proteostasis Therapeutics in the first quarter valued at approximately $159,000. Barclays PLC lifted its holdings in shares of Proteostasis Therapeutics by 2,396.9% in the first quarter. Barclays PLC now owns 54,957 shares of the company’s stock valued at $261,000 after purchasing an additional 52,756 shares in the last quarter. Finally, Element Capital Management LLC bought a new position in shares of Proteostasis Therapeutics in the first quarter valued at approximately $158,000. Institutional investors own 64.58% of the company’s stock.

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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