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 equities research analysts also recently issued reports on PTI. Piper Jaffray Companies increased their price objective on Beigene to $180.00 and gave the stock an overweight rating in a research note on Thursday, May 9th. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Finally, Cantor Fitzgerald started coverage on Inovio Pharmaceuticals in a research note on Monday, March 25th. They issued an overweight rating and a $3.62 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Proteostasis Therapeutics presently has a consensus rating of Hold and a consensus price target of $8.75.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.11. The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.80 million. Research analysts forecast that Proteostasis Therapeutics will post -1.45 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of PTI. Rhumbline Advisers increased its position in Proteostasis Therapeutics by 70.3% in the 4th quarter. Rhumbline Advisers now owns 36,418 shares of the company’s stock worth $118,000 after purchasing an additional 15,030 shares during the last quarter. New York State Common Retirement Fund increased its position in Proteostasis Therapeutics by 6,175.0% in the 4th quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after purchasing an additional 24,700 shares during the last quarter. BlackRock Inc. increased its position in Proteostasis Therapeutics by 61.1% in the 4th quarter. BlackRock Inc. now owns 2,920,723 shares of the company’s stock worth $9,464,000 after purchasing an additional 1,107,731 shares during the last quarter. Bank of New York Mellon Corp increased its position in Proteostasis Therapeutics by 331.6% in the 4th quarter. Bank of New York Mellon Corp now owns 268,990 shares of the company’s stock worth $871,000 after purchasing an additional 206,672 shares during the last quarter. Finally, Northern Trust Corp increased its position in Proteostasis Therapeutics by 42.0% in the 4th quarter. Northern Trust Corp now owns 385,756 shares of the company’s stock worth $1,250,000 after purchasing an additional 114,173 shares during the last quarter. 60.15% of the stock is currently owned by institutional investors.
About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.
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