Proteostasis Therapeutics Inc (PTI) Expected to Post Quarterly Sales of $1.38 Million

Wall Street analysts forecast that Proteostasis Therapeutics Inc (NASDAQ:PTI) will report sales of $1.38 million for the current quarter, Zacks reports. Two analysts have made estimates for Proteostasis Therapeutics’ earnings, with estimates ranging from $1.03 million to $1.72 million. Proteostasis Therapeutics posted sales of $1.72 million during the same quarter last year, which would indicate a negative year over year growth rate of 19.8%. The company is scheduled to issue its next earnings report on Thursday, November 9th.

According to Zacks, analysts expect that Proteostasis Therapeutics will report full-year sales of $1.38 million for the current year, with estimates ranging from $2.17 million to $5.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $2.00 million per share. Zacks’ sales calculations are an average based on a survey of research firms that cover Proteostasis Therapeutics.

PTI has been the topic of several recent analyst reports. Zacks Investment Research downgraded Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Leerink Swann reaffirmed an “outperform” rating and set a $9.00 target price (down previously from $17.00) on shares of Proteostasis Therapeutics in a research note on Wednesday, August 16th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in shares of Proteostasis Therapeutics by 2.3% in the 2nd 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 in the last quarter. Jennison Associates LLC raised its stake in shares of Proteostasis Therapeutics by 6.2% in the 2nd quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock worth $9,713,000 after buying an additional 120,575 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Proteostasis Therapeutics by 120.5% in the 1st quarter. JPMorgan Chase & Co. now owns 378,368 shares of the company’s stock worth $2,959,000 after buying an additional 206,811 shares in the last quarter. Bain Capital Public Equity Management LLC bought a new stake in shares of Proteostasis Therapeutics in the 2nd quarter worth $1,233,000. Finally, Sabby Management LLC raised its stake in shares of Proteostasis Therapeutics by 109.6% in the 2nd quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after buying an additional 65,451 shares in the last quarter. 73.71% of the stock is currently owned by institutional investors.

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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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