Proteostasis Therapeutics Inc. (PTI) Receives Average Recommendation of “Buy” from Brokerages
Proteostasis Therapeutics Inc. (NASDAQ:PTI) has earned a consensus rating of “Buy” from the six ratings firms that are covering the firm. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $17.00.
PTI has been the topic of several research reports. HC Wainwright set a $15.00 price objective on shares of Proteostasis Therapeutics and gave the company a “buy” rating in a research report on Sunday, October 30th. Leerink Swann reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Proteostasis Therapeutics in a research report on Friday, August 12th. Finally, Zacks Investment Research cut shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 18th.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) traded up 0.8677% during midday trading on Thursday, hitting $11.4384. The stock had a trading volume of 23,520 shares. Proteostasis Therapeutics has a 1-year low of $5.27 and a 1-year high of $20.63. The firm’s market capitalization is $285.50 billion. The company’s 50 day moving average price is $12.18 and its 200-day moving average price is $13.39.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings results on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.06. Proteostasis Therapeutics had a negative return on equity of 257.35% and a negative net margin of 601.28%. Equities analysts predict that Proteostasis Therapeutics will post ($2.32) earnings per share for the current year.
In other news, major shareholder Cormorant Asset Management, Ll acquired 327,977 shares of the stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $8.45 per share, for a total transaction of $2,771,405.65. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Enterprise Associates 12 New acquired 461,538 shares of the stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $13.00 per share, for a total transaction of $5,999,994.00. The disclosure for this purchase can be found here. Company insiders own 29.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTI. Cormorant Asset Management LLC purchased a new position in Proteostasis Therapeutics during the first quarter valued at $16,644,000. Hillhouse Capital Management Ltd. purchased a new position in Proteostasis Therapeutics during the third quarter valued at $11,907,000. Franklin Resources Inc. purchased a new position in Proteostasis Therapeutics during the second quarter valued at $7,581,000. NEA Management Company LLC raised its position in Proteostasis Therapeutics by 14.9% in the third quarter. NEA Management Company LLC now owns 3,556,778 shares of the company’s stock valued at $55,450,000 after buying an additional 461,538 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Proteostasis Therapeutics by 47.2% in the third quarter. Jennison Associates LLC now owns 1,229,362 shares of the company’s stock valued at $19,166,000 after buying an additional 394,259 shares in the last quarter. Institutional investors own 42.59% of the company’s stock.
About Proteostasis Therapeutics
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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