Zacks: Brokerages Anticipate Proteostasis Therapeutics Inc (PTI) Will Post Quarterly Sales of $1.58 Million

Equities analysts expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to announce sales of $1.58 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Proteostasis Therapeutics’ earnings, with the lowest sales estimate coming in at $1.55 million and the highest estimate coming in at $1.60 million. Proteostasis Therapeutics posted sales of $4.06 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 61.1%. The business is expected to announce its next earnings report on Thursday, March 29th.

According to Zacks, analysts expect that Proteostasis Therapeutics will report full-year sales of $1.58 million for the current fiscal year, with estimates ranging from $5.27 million to $5.32 million. For the next fiscal year, analysts anticipate that the business will report sales of $5.37 million per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.16. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. The business had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.38 million.

Several equities analysts have recently weighed in on the company. ValuEngine cut Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, January 18th. Leerink Swann lifted their target price on Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. Finally, Robert W. Baird lifted their target price on Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. Proteostasis Therapeutics presently has an average rating of “Hold” and an average target price of $16.00.

Proteostasis Therapeutics (NASDAQ:PTI) opened at $4.29 on Friday. Proteostasis Therapeutics has a 1-year low of $1.41 and a 1-year high of $16.67. The firm has a market capitalization of $145.79 and a PE ratio of -1.94.

In other Proteostasis Therapeutics news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $4.88, for a total transaction of $2,459,651.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Meenu Chhabra purchased 40,000 shares of the stock in a transaction on Monday, December 18th. The shares were bought at an average cost of $5.00 per share, for a total transaction of $200,000.00. Following the transaction, the insider now directly owns 50,218 shares in the company, valued at $251,090. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,100,000 shares of company stock worth $10,500,000. 17.40% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth approximately $254,000. FMR LLC increased its position in shares of Proteostasis Therapeutics by 2.3% during the 2nd quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after purchasing an additional 66,111 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth approximately $296,000. Sabby Management LLC increased its position in shares of Proteostasis Therapeutics by 109.6% during the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after purchasing an additional 65,451 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Proteostasis Therapeutics by 425.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock worth $2,361,000 after purchasing an additional 910,550 shares during the last quarter. 51.80% of the stock is currently owned by hedge funds and other institutional investors.

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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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