Proteostasis Therapeutics, Inc. (PTI) Stock Rating Reaffirmed by Leerink Swann
Proteostasis Therapeutics, Inc. (NASDAQ:PTI)‘s stock had its “outperform” rating reiterated by stock analysts at Leerink Swann in a research report issued to clients and investors on Wednesday, The Fly reports. They currently have a $9.00 target price on the stock, down from their previous target price of $17.00. Leerink Swann’s price objective indicates a potential upside of 301.79% from the company’s current price.
A number of other brokerages have also issued reports on PTI. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research note on Friday, June 30th.
Proteostasis Therapeutics (NASDAQ:PTI) opened at 2.24 on Wednesday. The firm’s 50-day moving average is $3.58 and its 200 day moving average is $7.36. The company’s market capitalization is $56.23 million. Proteostasis Therapeutics has a one year low of $2.04 and a one year high of $20.63.
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A number of hedge funds have recently modified their holdings of the company. NEA Management Company LLC raised its stake in Proteostasis Therapeutics by 14.9% in the third quarter. NEA Management Company LLC now owns 3,556,778 shares of the company’s stock worth $55,450,000 after buying an additional 461,538 shares during the last quarter. FMR LLC raised its stake in Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after buying an additional 66,111 shares during the last quarter. Jennison Associates LLC raised its stake in Proteostasis Therapeutics by 6.2% in the second quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock worth $9,713,000 after buying an additional 120,575 shares during the last quarter. Cormorant Asset Management LLC purchased a new stake in Proteostasis Therapeutics during the first quarter worth $16,644,000. Finally, Hillhouse Capital Management Ltd. purchased a new stake in Proteostasis Therapeutics during the third quarter worth $11,907,000. Institutional investors own 75.40% 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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