Proteostasis Therapeutics Inc (PTI) Expected to Post Quarterly Sales of $1.58 Million

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%.

Several equities analysts have recently issued reports on PTI shares. Leerink Swann boosted their target price on Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Robert W. Baird boosted their price objective on Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Finally, ValuEngine raised Proteostasis Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Proteostasis Therapeutics presently has an average rating of “Hold” and an average target price of $16.00.

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.

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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.

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