Proteostasis Therapeutics Inc. (PTI) Receives Average Recommendation of “Buy” from Brokerages
Proteostasis Therapeutics Inc. (NASDAQ:PTI) has received an average rating of “Buy” from the six ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.
Several brokerages recently issued reports on PTI. Zacks Investment Research lowered shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Leerink Swann restated a “buy” rating and set a $20.00 target price on shares of Proteostasis Therapeutics in a research report on Friday, August 12th.
Proteostasis Therapeutics (NASDAQ:PTI) remained flat at $14.95 during mid-day trading on Thursday. 82,682 shares of the company’s stock traded hands. Proteostasis Therapeutics has a 52 week low of $5.27 and a 52 week high of $20.63. The firm’s market cap is $286.79 million. The stock’s 50 day moving average is $14.35 and its 200 day moving average is $13.15.
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Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings data on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.06. Analysts predict that Proteostasis Therapeutics will post ($2.22) earnings per share for the current year.
In other news, Director Franklin M. Berger purchased 69,230 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was acquired at an average cost of $13.00 per share, for a total transaction of $899,990.00. Following the completion of the transaction, the director now directly owns 166,162 shares in the company, valued at approximately $2,160,106. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Enterprise Associates 12 New purchased 461,538 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was purchased at an average price of $13.00 per share, with a total value of $5,999,994.00. The disclosure for this purchase can be found here. Corporate insiders own 29.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of PTI. BlackRock Fund Advisors purchased a new position in Proteostasis Therapeutics during the first quarter worth $130,000. Geode Capital Management LLC purchased a new position in Proteostasis Therapeutics during the first quarter worth $412,000. Cormorant Asset Management LLC purchased a new position in Proteostasis Therapeutics during the first quarter worth $16,644,000. Bank of New York Mellon Corp purchased a new position in Proteostasis Therapeutics during the second quarter worth $185,000. Finally, California State Teachers Retirement System purchased a new position in Proteostasis Therapeutics during the second quarter worth $161,000. Institutional investors and hedge funds own 40.02% of the company’s stock.
About Proteostasis Therapeutics
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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