Brokerages expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to report sales of $1.58 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings, with estimates ranging from $1.55 million to $1.60 million. Proteostasis Therapeutics posted sales of $4.06 million during the same quarter last year, which suggests a negative year-over-year growth rate of 61.1%. The company is scheduled to report its next earnings report on Thursday, March 29th.
On average, 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 financial year, analysts expect that the company will post sales of $5.37 million per share. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Proteostasis Therapeutics.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.16. The firm had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%.
Shares of Proteostasis Therapeutics (PTI) opened at $3.15 on Wednesday. Proteostasis Therapeutics has a twelve month low of $1.41 and a twelve month high of $16.67.
In related news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $4.88, for a total value of $2,459,651.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Franklin M. Berger purchased 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was acquired at an average price of $5.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 266,162 shares in the company, valued at approximately $1,330,810. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 2,100,000 shares of company stock valued at $10,500,000. Insiders own 17.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PTI. Jennison Associates LLC increased its position in 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 buying an additional 1,107,496 shares during the period. JPMorgan Chase & Co. increased its position in 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 buying an additional 910,550 shares during the period. Monashee Investment Management LLC bought a new position in Proteostasis Therapeutics during the 4th quarter worth $2,186,000. Sectoral Asset Management Inc bought a new position in Proteostasis Therapeutics during the 4th quarter worth $1,749,000. Finally, FMR LLC grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 55.15% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Proteostasis Therapeutics Inc (PTI) Expected to Post Quarterly Sales of $1.58 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/14/proteostasis-therapeutics-inc-pti-expected-to-post-quarterly-sales-of-1-58-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.