Leerink Swann Reiterates “Outperform” Rating for Proteostasis Therapeutics, Inc. (PTI)
Proteostasis Therapeutics, Inc. (NASDAQ:PTI)‘s stock had its “outperform” rating reissued by stock analysts at Leerink Swann in a note issued to investors on Wednesday, The Fly reports. They presently have a $9.00 price objective on the stock, down from their prior price objective of $17.00. Leerink Swann’s target price would indicate a potential upside of 301.79% from the stock’s current price.
PTI has been the topic of several other reports. Zacks Investment Research lowered shares of Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a report on Friday, June 30th.
Proteostasis Therapeutics (NASDAQ:PTI) opened at 2.24 on Wednesday. Proteostasis Therapeutics has a 12 month low of $2.04 and a 12 month high of $20.63. The stock’s 50 day moving average is $3.58 and its 200-day moving average is $7.36. The stock’s market capitalization is $56.23 million.
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Several institutional investors have recently modified their holdings of PTI. Candriam Luxembourg S.C.A. raised its position in shares of Proteostasis Therapeutics by 66.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 75,000 shares of the company’s stock valued at $587,000 after buying an additional 30,000 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at approximately $5,946,000. FMR LLC raised its position in shares of Proteostasis Therapeutics by 30.4% in the first quarter. FMR LLC now owns 2,878,804 shares of the company’s stock valued at $22,513,000 after buying an additional 671,936 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Proteostasis Therapeutics by 21.4% in the fourth quarter. Teachers Advisors LLC now owns 12,617 shares of the company’s stock valued at $155,000 after buying an additional 2,223 shares in the last quarter. Finally, TD Asset Management Inc. bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at approximately $199,000. Hedge funds and other institutional investors own 75.40% 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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