Proteostasis Therapeutics, Inc. (PTI) Expected to Post Quarterly Sales of $1.38 Million
Wall Street analysts forecast that Proteostasis Therapeutics, Inc. (NASDAQ:PTI) will announce sales of $1.38 million for the current quarter, Zacks reports. Two analysts have issued estimates for Proteostasis Therapeutics’ earnings, with the highest sales estimate coming in at $1.72 million and the lowest estimate coming in at $1.03 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 issue its next earnings results on Thursday, November 9th.
On average, analysts expect that Proteostasis Therapeutics will report full-year sales of $1.38 million for the current fiscal year, with estimates ranging from $2.17 million to $5.50 million. For the next fiscal year, analysts anticipate that the business will post sales of $2.00 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Proteostasis Therapeutics.
A number of equities research analysts have weighed in on the company. Leerink Swann restated an “outperform” rating and set a $9.00 price objective (down previously from $17.00) on shares of Proteostasis Therapeutics in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Proteostasis Therapeutics in a research note on Friday, June 30th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. acquired a new stake in Proteostasis Therapeutics during the 1st quarter valued at approximately $100,000. Dynamic Technology Lab Private Ltd bought a new position in Proteostasis Therapeutics during the 1st quarter worth approximately $112,000. LMR Partners LLP bought a new position in Proteostasis Therapeutics during the 2nd quarter worth approximately $127,000. 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 worth $155,000 after buying an additional 2,223 shares during the last quarter. Finally, 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 worth $155,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 73.71% of the company’s stock.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 2.07 on Wednesday. The company’s 50-day moving average price is $2.04 and its 200 day moving average price is $4.05. The stock’s market cap is $51.96 million. Proteostasis Therapeutics has a 1-year low of $1.71 and a 1-year high of $16.67.
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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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