Proteostasis Therapeutics (PTI) Upgraded by ValuEngine to “Sell”

Proteostasis Therapeutics (NASDAQ:PTI) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Friday.

A number of other analysts have also commented on PTI. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Proteostasis Therapeutics in a report on Tuesday, December 19th. Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, January 18th. Leerink Swann boosted their price target on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. Finally, Robert W. Baird boosted their price target on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Proteostasis Therapeutics has a consensus rating of “Hold” and an average price target of $16.00.

Proteostasis Therapeutics (NASDAQ PTI) traded down $0.44 during midday trading on Friday, hitting $2.76. 2,440,000 shares of the company traded hands, compared to its average volume of 933,918. Proteostasis Therapeutics has a twelve month low of $1.41 and a twelve month high of $16.67. The company has a market capitalization of $91.39 and a PE ratio of -1.25.

Proteostasis Therapeutics (NASDAQ:PTI) last released its earnings results 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. The business had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%. research analysts predict that Proteostasis Therapeutics will post -2.5 EPS for the current year.

In related news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $4.88, for a total value of $2,459,651.76. The sale 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 firm’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the purchase, the insider now owns 50,218 shares in the company, valued at approximately $251,090. The disclosure for this purchase can be found here. Insiders have bought a total of 2,100,000 shares of company stock worth $10,500,000 over the last 90 days. 17.40% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Jennison Associates LLC grew its position in shares of Proteostasis Therapeutics by 53.5% during the 4th quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock worth $18,530,000 after purchasing an additional 1,107,496 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 910,550 shares during the period. Sabby Management LLC lifted its stake in Proteostasis Therapeutics by 109.6% in the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock valued at $586,000 after purchasing an additional 65,451 shares during the last quarter. Susquehanna International Group LLP bought a new position in Proteostasis Therapeutics in the 2nd quarter valued at approximately $254,000. Finally, Goldman Sachs Group Inc. lifted its stake in Proteostasis Therapeutics by 364.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock valued at $243,000 after purchasing an additional 40,731 shares during the last quarter. Hedge funds and other institutional investors own 51.80% of the company’s stock.

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Proteostasis Therapeutics Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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