Brokerages Expect Proteostasis Therapeutics Inc (PTI) to Announce -$0.46 Earnings Per Share

Equities research analysts predict that Proteostasis Therapeutics Inc (NASDAQ:PTI) will post earnings of ($0.46) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Proteostasis Therapeutics’ earnings. The lowest EPS estimate is ($0.51) and the highest is ($0.41). Proteostasis Therapeutics reported earnings of ($0.51) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is scheduled to issue its next earnings report on Wednesday, March 13th.

According to Zacks, analysts expect that Proteostasis Therapeutics will report full-year earnings of ($1.84) per share for the current financial year, with EPS estimates ranging from ($2.32) to ($1.62). For the next year, analysts forecast that the firm will post earnings of ($2.10) per share, with EPS estimates ranging from ($2.37) to ($1.61). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings data on Tuesday, November 6th. The company reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.04). The business had revenue of $1.06 million during the quarter, compared to analyst estimates of $0.83 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 104.17%.

Several research firms have issued reports on PTI. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, October 23rd. ValuEngine raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Cantor Fitzgerald began coverage on shares of Proteostasis Therapeutics in a research note on Tuesday, November 6th. They set a “buy” rating and a $21.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. Finally, Piper Jaffray Companies began coverage on shares of Proteostasis Therapeutics in a research note on Monday, October 29th. They set an “overweight” rating and a $14.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Proteostasis Therapeutics currently has an average rating of “Buy” and an average price target of $13.86.

NASDAQ PTI traded up $0.07 during trading hours on Monday, reaching $5.14. The company’s stock had a trading volume of 308,085 shares, compared to its average volume of 1,565,250. The stock has a market cap of $186.05 million, a price-to-earnings ratio of -2.20 and a beta of -3.31. Proteostasis Therapeutics has a fifty-two week low of $1.71 and a fifty-two week high of $10.38.

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

Hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Proteostasis Therapeutics by 156.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after acquiring an additional 28,600 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Proteostasis Therapeutics during the 2nd quarter worth about $141,000. Bank of New York Mellon Corp lifted its holdings in shares of Proteostasis Therapeutics by 252.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock worth $174,000 after acquiring an additional 44,653 shares during the period. Baird Financial Group Inc. purchased a new position in shares of Proteostasis Therapeutics during the 3rd quarter worth about $213,000. Finally, Northern Trust Corp lifted its holdings in shares of Proteostasis Therapeutics by 526.1% during the 2nd quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock worth $752,000 after acquiring an additional 226,417 shares during the period. Institutional investors and hedge funds own 63.03% of the company’s stock.

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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