Proteostasis Therapeutics, Inc. (NASDAQ:PTI)‘s stock had its “outperform” rating reissued by research analysts at Leerink Swann in a research report issued on Wednesday. They currently have a $9.00 price target on the stock, down from their prior price target of $17.00. Leerink Swann’s price target suggests a potential upside of 341.18% from the stock’s previous close.
A number of other brokerages have also commented on PTI. Zacks Investment Research raised Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Friday, June 30th.
Proteostasis Therapeutics (NASDAQ:PTI) opened at 2.04 on Wednesday. Proteostasis Therapeutics has a 52-week low of $1.97 and a 52-week high of $18.99. The stock’s 50 day moving average price is $3.45 and its 200 day moving average price is $7.28. The firm’s market capitalization is $51.21 million.
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A number of institutional investors have recently added to or reduced their stakes in PTI. Susquehanna International Group LLP bought a new position in Proteostasis Therapeutics during the second quarter worth about $254,000. Goldman Sachs Group Inc. increased its position in Proteostasis Therapeutics by 364.3% in the second quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after buying an additional 40,731 shares during the period. Bain Capital Public Equity Management LLC bought a new position in Proteostasis Therapeutics during the second quarter worth about $1,233,000. Dimensional Fund Advisors LP bought a new position in Proteostasis Therapeutics during the second quarter worth about $296,000. Finally, FMR LLC increased its position in Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after buying an additional 66,111 shares during the period. Institutional investors and hedge funds own 75.40% of the company’s stock.
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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