Zacks Investment Research Lowers Proteostasis Therapeutics (NASDAQ:PTI) to Hold

Zacks Investment Research downgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a buy rating to a hold rating in a research note released on Thursday, Zacks.com reports.

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. “

PTI has been the subject of a number of other reports. HC Wainwright reiterated a buy rating on shares of Proteostasis Therapeutics in a report on Friday, August 9th. ValuEngine upgraded Proteostasis Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Proteostasis Therapeutics presently has a consensus rating of Hold and a consensus price target of $8.75.

Shares of NASDAQ PTI remained flat at $$0.78 during mid-day trading on Thursday. The stock had a trading volume of 132,546 shares, compared to its average volume of 1,174,651. The stock has a market capitalization of $40.11 million, a price-to-earnings ratio of -0.49 and a beta of -0.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.19 and a quick ratio of 8.19. The firm’s fifty day moving average is $0.84 and its two-hundred day moving average is $0.97. Proteostasis Therapeutics has a 52 week low of $0.61 and a 52 week high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.01). As a group, research analysts predict that Proteostasis Therapeutics will post -1.49 EPS for the current year.

Several large investors have recently bought and sold shares of PTI. Acadian Asset Management LLC bought a new position in shares of Proteostasis Therapeutics during the first quarter worth about $290,000. GSA Capital Partners LLP bought a new position in Proteostasis Therapeutics in the second quarter valued at approximately $178,000. A.R.T. Advisors LLC bought a new position in Proteostasis Therapeutics in the second quarter valued at approximately $189,000. Paloma Partners Management Co bought a new position in Proteostasis Therapeutics in the second quarter valued at approximately $150,000. Finally, Jane Street Group LLC grew its stake in Proteostasis Therapeutics by 445.5% in the second quarter. Jane Street Group LLC now owns 175,050 shares of the company’s stock valued at $171,000 after purchasing an additional 142,958 shares in the last quarter. Institutional investors and hedge funds own 44.64% of the company’s stock.

About Proteostasis Therapeutics

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.

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