Analysts Anticipate Proteostasis Therapeutics Inc (PTI) Will Post Quarterly Sales of $1.58 Million

Equities research analysts expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to announce sales of $1.58 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings. The highest sales estimate is $1.60 million and the lowest is $1.55 million. Proteostasis Therapeutics posted sales of $4.06 million in the same quarter last year, which suggests a negative year-over-year growth rate of 61.1%. The firm is scheduled to announce its next earnings results on Thursday, March 29th.

According to Zacks, 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 forecast that the firm will post sales of $5.37 million per share. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.16. The business had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. Proteostasis Therapeutics had a negative net margin of 712.49% and a negative return on equity of 93.15%.

Several brokerages recently weighed in on PTI. ValuEngine lowered shares of Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Robert W. Baird raised their price objective on shares of 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 shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th. Leerink Swann raised their price objective on shares of Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $16.00.

In related news, Director Franklin M. Berger bought 60,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average price of $5.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the director now owns 266,162 shares of the company’s stock, valued at approximately $1,330,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Enterprise Associates 12 New bought 2,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average cost of $5.00 per share, for a total transaction of $10,000,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,100,000 shares of company stock worth $10,500,000. Insiders own 17.40% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in Proteostasis Therapeutics by 2.3% during the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock worth $13,782,000 after acquiring an additional 66,111 shares during the period. JPMorgan Chase & Co. increased its position in 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 acquiring an additional 910,550 shares during the period. Bain Capital Public Equity Management LLC bought a new position in Proteostasis Therapeutics during the second quarter worth $1,233,000. Sabby Management LLC increased its position in 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 acquiring an additional 65,451 shares during the period. Finally, Dimensional Fund Advisors LP bought a new position in Proteostasis Therapeutics during the second quarter worth $296,000. 51.80% of the stock is currently owned by institutional investors and hedge funds.

Proteostasis Therapeutics (NASDAQ:PTI) traded down $0.22 during mid-day trading on Thursday, hitting $5.24. 709,713 shares of the company traded hands, compared to its average volume of 2,200,000. The firm has a market capitalization of $173.51 and a PE ratio of -2.37. Proteostasis Therapeutics has a twelve month low of $1.41 and a twelve month high of $16.67.

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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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