HC Wainwright reiterated their buy rating on shares of Proteostasis Therapeutics (NASDAQ:PTI) in a report issued on Tuesday morning. The brokerage currently has a $15.00 price target on the stock.

Several other research firms have also recently commented on PTI. Zacks Investment Research cut Proteostasis Therapeutics from a hold rating to a sell rating in a research note on Saturday, November 18th. Robert W. Baird raised their target price on Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an outperform rating in a research note on Tuesday, December 12th. Finally, Leerink Swann raised their target price on Proteostasis Therapeutics from $6.00 to $8.00 in a research note on Tuesday, December 12th.

Shares of Proteostasis Therapeutics (NASDAQ:PTI) traded up $0.55 during mid-day trading on Tuesday, hitting $5.02. The stock had a trading volume of 2,282,900 shares, compared to its average volume of 366,847. Proteostasis Therapeutics has a 12 month low of $1.41 and a 12 month high of $16.67.

Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.16. The company had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. sell-side analysts expect that Proteostasis Therapeutics will post -2.47 EPS for the current year.

In other Proteostasis Therapeutics news, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $4.88, for a total value of $2,459,651.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Enterprise Associates 12 New acquired 2,000,000 shares of Proteostasis Therapeutics stock in a transaction on Monday, December 18th. The stock was purchased at an average cost of $5.00 per share, with a total value of $10,000,000.00. The disclosure for this purchase can be found here. Insiders have purchased 2,100,000 shares of company stock valued at $10,500,000 in the last ninety days. 17.40% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PTI. JPMorgan Chase & Co. grew its stake in Proteostasis Therapeutics by 425.4% in the third quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock valued at $2,361,000 after acquiring an additional 910,550 shares during the period. Bain Capital Public Equity Management LLC acquired a new stake in Proteostasis Therapeutics in the second quarter valued at approximately $1,233,000. Jennison Associates LLC grew its stake in Proteostasis Therapeutics by 6.2% in the second quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock valued at $9,713,000 after acquiring an additional 120,575 shares during the period. FMR LLC grew its stake in Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after acquiring an additional 66,111 shares during the period. Finally, Sabby Management LLC grew its stake in Proteostasis Therapeutics by 109.6% in the second quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock valued at $586,000 after acquiring an additional 65,451 shares during the period. 68.03% of the stock is owned by hedge funds and other institutional investors.

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Proteostasis Therapeutics Company Profile

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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