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.

ILLEGAL ACTIVITY WARNING: “Proteostasis Therapeutics, Inc. (PTI) Stock Rating Reaffirmed by Leerink Swann” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/16/proteostasis-therapeutics-inc-pti-stock-rating-reaffirmed-by-leerink-swann.html.

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.

The Fly

Receive News & Ratings for Proteostasis Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.