BidaskClub upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a strong sell rating to a sell rating in a research report report published on Tuesday morning.
PTI has been the topic of several other research reports. Royal Bank of Canada raised shares of Proteostasis Therapeutics from a sector perform rating to an outperform rating in a research note on Thursday, October 18th. Piper Jaffray Companies began coverage on shares of Proteostasis Therapeutics in a research note on Monday, October 29th. They issued an overweight rating and a $14.00 price target on the stock. HC Wainwright reaffirmed a buy rating and issued a $15.00 price target on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. Zacks Investment Research downgraded shares of Proteostasis Therapeutics from a buy rating to a hold rating in a research note on Thursday, October 25th. Finally, ValuEngine raised shares of Proteostasis Therapeutics from a hold rating to a buy rating in a research note on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $13.86.
Shares of PTI opened at $7.02 on Tuesday. Proteostasis Therapeutics has a twelve month low of $1.41 and a twelve month high of $10.38.
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 net margin of 1,309.13% and a negative return on equity of 104.16%. The firm had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $1.16 million. Equities analysts expect that Proteostasis Therapeutics will post -1.88 EPS for the current year.
In related news, Director Franklin M. Berger purchased 40,000 shares of Proteostasis Therapeutics stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average price of $6.75 per share, with a total value of $270,000.00. Following the purchase, the director now directly owns 266,162 shares of the company’s stock, valued at approximately $1,796,593.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its stake in Proteostasis Therapeutics by 0.7% in the 3rd quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock worth $8,893,000 after buying an additional 26,428 shares during the period. BlackRock Inc. grew its holdings in Proteostasis Therapeutics by 3,693.4% during the 2nd quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock worth $5,043,000 after acquiring an additional 1,760,063 shares in the last quarter. Bailard Inc. grew its holdings in Proteostasis Therapeutics by 12.0% during the 2nd quarter. Bailard Inc. now owns 582,400 shares of the company’s stock worth $1,625,000 after acquiring an additional 62,300 shares in the last quarter. Northern Trust Corp grew its holdings in Proteostasis Therapeutics by 526.1% during the 2nd quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock worth $752,000 after acquiring an additional 226,417 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Proteostasis Therapeutics by 252.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock worth $174,000 after acquiring an additional 44,653 shares in the last quarter. 64.57% of the stock is currently owned by institutional investors.
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.
Read More: What does the Dow Jones Industrial Average (DJIA) measure?
Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.