Proteostasis Therapeutics (PTI) – Research Analysts’ Recent Ratings Updates

Proteostasis Therapeutics (NASDAQ: PTI) recently received a number of ratings updates from brokerages and research firms:

  • 11/28/2018 – Proteostasis Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 11/22/2018 – Proteostasis Therapeutics was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 11/14/2018 – Proteostasis Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 11/13/2018 – Proteostasis Therapeutics was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 11/6/2018 – Proteostasis Therapeutics was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 11/6/2018 – Proteostasis Therapeutics is now covered by analysts at Cantor Fitzgerald. They set a “buy” rating and a $21.00 price target on the stock. They wrote, “The Disclosure Section may be found on pages 43 – 45. We are initiating coverage of Proteostasis Therapeutics (PTI) with an Overweight rating and a 12- month price target of $21/share. Proteostasis is developing CFTR modulators for the treatment of cystic fibrosis. The company has a number of ongoing Phase 2 studies evaluating doublet and triplet proprietary drug combinations, with further studies assessing the drugs as add-on therapies to standard of care. In our view, cystic fibrosis is a well-understood disease that has received a magnitude of support from multiple CF foundations. We believe Vertex (Rated OW by Alethia Young) has ignited the engine with establishing proof of concept of this drug class, with three approved drugs.””
  • 10/29/2018 – Proteostasis Therapeutics is now covered by analysts at Piper Jaffray Companies. They set an “overweight” rating and a $14.00 price target on the stock.
  • 10/25/2018 – Proteostasis Therapeutics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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. “
  • 10/23/2018 – Proteostasis Therapeutics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $9.00 price target on the stock. 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. “
  • 10/18/2018 – Proteostasis Therapeutics was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating.
  • 10/18/2018 – Proteostasis Therapeutics was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/18/2018 – Proteostasis Therapeutics had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $15.00 price target on the stock. They wrote, “Our price target of $15 is based on a probability-adjusted $12 from PTI-428 in F508del CF (12% discount rate, 2% growth rate, in line with the expected discount and growth parameters of a development-stage company) + $3 in cash. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and/or pricing. Proteostasis Therapeutics, Inc.””
  • 10/5/2018 – Proteostasis Therapeutics was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “

Shares of PTI stock traded up $0.03 during trading on Monday, reaching $5.10. 7,255 shares of the company’s stock traded hands, compared to its average volume of 712,548. The stock has a market capitalization of $186.05 million, a P/E ratio of -2.18 and a beta of -3.31. Proteostasis Therapeutics Inc has a 1 year low of $1.71 and a 1 year high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Proteostasis Therapeutics Inc will post -1.84 EPS for the current fiscal year.

In other Proteostasis Therapeutics news, Director Franklin M. Berger purchased 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were bought at an average cost of $6.75 per share, for a total transaction of $270,000.00. Following the purchase, the director now owns 266,162 shares of the company’s stock, valued at approximately $1,796,593.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Baird Financial Group Inc. bought a new stake in Proteostasis Therapeutics during the 3rd quarter worth approximately $213,000. Jennison Associates LLC increased its holdings in Proteostasis Therapeutics by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock worth $8,893,000 after acquiring an additional 26,428 shares during the period. Northern Trust Corp increased its holdings in 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. BlackRock Inc. increased its holdings in Proteostasis Therapeutics by 3,693.4% during the 2nd quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock worth $5,043,000 after acquiring an additional 1,760,063 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in 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. Institutional investors own 63.03% of the company’s stock.

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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