Zacks Investment Research Lowers Proteostasis Therapeutics (PTI) to Sell

Zacks Investment Research downgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a sell rating in a research report sent 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. “

Several other analysts have also issued reports on PTI. BidaskClub lowered Proteostasis Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, November 13th. Cantor Fitzgerald began coverage on Proteostasis Therapeutics in a research note on Tuesday, November 6th. They issued a buy rating and a $21.00 price objective on the stock. Piper Jaffray Companies began coverage on Proteostasis Therapeutics in a research note on Monday, October 29th. They issued an overweight rating and a $14.00 price objective on the stock. ValuEngine upgraded Proteostasis Therapeutics from a hold rating to a buy rating in a research note on Thursday, October 18th. Finally, HC Wainwright reaffirmed a buy rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $13.86.

NASDAQ:PTI opened at $5.07 on Wednesday. Proteostasis Therapeutics has a 12-month low of $1.71 and a 12-month high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings data on Tuesday, November 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.04). The business had revenue of $1.06 million during the quarter, compared to the consensus estimate of $0.83 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 104.17%. On average, analysts predict that Proteostasis Therapeutics will post -1.84 EPS for the current year.

In other news, Director Franklin M. Berger bought 40,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The shares were bought at an average price of $6.75 per share, with a total value of $270,000.00. Following the completion of the transaction, the director now owns 266,162 shares of the company’s stock, valued at $1,796,593.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.80% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of PTI. Schwab Charles Investment Management Inc. grew its position in Proteostasis Therapeutics by 156.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after buying an additional 28,600 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Proteostasis Therapeutics during the second quarter worth approximately $141,000. Bank of New York Mellon Corp grew its position in Proteostasis Therapeutics by 252.8% during the second quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock worth $174,000 after buying an additional 44,653 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in Proteostasis Therapeutics during the third quarter worth approximately $213,000. Finally, Northern Trust Corp grew its position in Proteostasis Therapeutics by 526.1% during the second quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock worth $752,000 after buying an additional 226,417 shares in the last quarter. 64.84% of the stock is currently owned by institutional investors.

Proteostasis Therapeutics Company Profile

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.

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