$1.38 Million in Sales Expected for Proteostasis Therapeutics, Inc. (PTI) This Quarter
Equities analysts expect Proteostasis Therapeutics, Inc. (NASDAQ:PTI) to post $1.38 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings. The lowest sales estimate is $1.03 million and the highest is $1.72 million. Proteostasis Therapeutics reported sales of $1.72 million in the same quarter last year, which indicates a negative year-over-year growth rate of 19.8%. The company is expected to announce its next quarterly earnings report on Thursday, November 9th.
On average, analysts expect that Proteostasis Therapeutics will report full-year sales of $1.38 million for the current financial year, with estimates ranging from $2.17 million to $5.50 million. For the next year, analysts forecast that the company will post sales of $2.00 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Proteostasis Therapeutics.
PTI has been the topic of a number of analyst reports. Zacks Investment Research cut Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Proteostasis Therapeutics in a research note on Friday, June 30th. Finally, Leerink Swann reissued an “outperform” rating and set a $9.00 target price (down from $17.00) on shares of Proteostasis Therapeutics in a research note on Wednesday, August 16th.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 1.99 on Friday. The stock’s market capitalization is $49.95 million. Proteostasis Therapeutics has a one year low of $1.71 and a one year high of $16.67. The stock has a 50 day moving average of $2.08 and a 200-day moving average of $5.13.
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Large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP lifted its holdings in Proteostasis Therapeutics by 1.0% during the 1st quarter. Trexquant Investment LP now owns 19,790 shares of the company’s stock valued at $155,000 after purchasing an additional 190 shares during the last quarter. Teachers Advisors LLC lifted its holdings in Proteostasis Therapeutics by 21.4% during the 4th quarter. Teachers Advisors LLC now owns 12,617 shares of the company’s stock valued at $155,000 after purchasing an additional 2,223 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Proteostasis Therapeutics by 17.3% during the 1st quarter. Bank of New York Mellon Corp now owns 34,964 shares of the company’s stock valued at $273,000 after purchasing an additional 5,153 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Proteostasis Therapeutics during the 1st quarter valued at $100,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Proteostasis Therapeutics during the 1st quarter valued at $112,000. 73.71% of the stock is owned by institutional investors and hedge funds.
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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