$1.38 Million in Sales Expected for Proteostasis Therapeutics, Inc. (PTI) This Quarter
Equities analysts forecast that Proteostasis Therapeutics, Inc. (NASDAQ:PTI) will announce $1.38 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Proteostasis Therapeutics’ earnings, with the lowest sales estimate coming in at $1.03 million and the highest estimate coming in at $1.72 million. Proteostasis Therapeutics posted sales of $1.72 million during the same quarter last year, which would indicate a negative year over year growth rate of 19.8%. The business is expected to report its next 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 business will post sales of $2.00 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Proteostasis Therapeutics.
Several analysts have recently commented on the stock. Leerink Swann reissued an “outperform” rating and set a $9.00 price target (down from $17.00) on shares of Proteostasis Therapeutics in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th.
Shares of Proteostasis Therapeutics (NASDAQ PTI) opened at 1.98 on Monday. The company’s 50-day moving average price is $2.07 and its 200 day moving average price is $3.50. The company’s market cap is $49.70 million. Proteostasis Therapeutics has a one year low of $1.71 and a one year high of $16.67.
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A number of hedge funds have recently made changes to their positions in PTI. Russell Investments Group Ltd. bought a new position in Proteostasis Therapeutics in the first quarter valued at approximately $100,000. LMR Partners LLP bought a new position in Proteostasis Therapeutics in the second quarter valued at approximately $127,000. Goldman Sachs Group Inc. boosted its stake in Proteostasis Therapeutics by 364.3% in the second quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock valued at $243,000 after acquiring an additional 40,731 shares during the last quarter. Susquehanna International Group LLP bought a new position in Proteostasis Therapeutics in the second quarter valued at approximately $254,000. Finally, Bank of New York Mellon Corp boosted its stake in Proteostasis Therapeutics by 17.3% in the first quarter. Bank of New York Mellon Corp now owns 34,964 shares of the company’s stock valued at $273,000 after acquiring an additional 5,153 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.
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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