Proteostasis Therapeutics (NASDAQ:PTI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Proteostasis Therapeutics, Inc. is a biopharmaceutical company which focuses on the discovery and development of novel therapeutics to treat diseases caused by an imbalance in the proteostasis network primarily in the United States. Proteostasis Therapeutics, Inc. is based in Cambridge, Massachusetts. “
Other equities analysts also recently issued reports about the stock. Leerink Swann raised their target price on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a report on Tuesday, December 12th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a report on Tuesday, December 19th. Robert W. Baird lifted their price target on shares of Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, ValuEngine upgraded shares of Proteostasis Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $16.00.
Proteostasis Therapeutics (NASDAQ:PTI) last posted 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. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%. The firm had revenue of $1.55 million during the quarter, compared to the consensus estimate of $1.38 million. analysts forecast that Proteostasis Therapeutics will post -2.5 EPS for the current year.
In other Proteostasis Therapeutics news, major shareholder Enterprise Associates 12 New purchased 2,000,000 shares of Proteostasis Therapeutics stock in a transaction on Monday, December 18th. The shares were purchased at an average cost of $5.00 per share, with a total value of $10,000,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of Proteostasis Therapeutics stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $4.88, for a total transaction of $2,459,651.76. The disclosure for this sale can be found here. Insiders purchased 2,100,000 shares of company stock worth $10,500,000 over the last three months. Corporate insiders own 17.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Sectoral Asset Management Inc acquired a new position in Proteostasis Therapeutics during the fourth quarter valued at approximately $1,749,000. Monashee Investment Management LLC acquired a new position in shares of Proteostasis Therapeutics during the fourth quarter worth $2,186,000. Jennison Associates LLC lifted its position in shares of Proteostasis Therapeutics by 53.5% during the fourth 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 position in shares of Proteostasis Therapeutics by 425.4% during the third 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 in the last quarter. Finally, Sabby Management LLC lifted its position in shares of Proteostasis Therapeutics by 109.6% during the second quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after purchasing an additional 65,451 shares in the last quarter. 55.15% 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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