Zacks Investment Research cut shares of Proteostasis Therapeutics (NASDAQ:PTI) from a buy rating to a hold rating in a report released on Friday morning, Zacks.com reports.

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. “

Other research analysts also recently issued reports about the company. Piper Jaffray Companies raised their price objective on Beigene to $180.00 and gave the company 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 initiated coverage on Inovio Pharmaceuticals in a report on Monday, March 25th. They issued an overweight rating and a $3.62 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Proteostasis Therapeutics currently has an average rating of Hold and an average target price of $8.75.

PTI opened at $0.91 on Friday. Proteostasis Therapeutics has a fifty-two week low of $0.90 and a fifty-two week high of $10.38. The business’s 50-day moving average price is $1.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.30 and a quick ratio of 11.29. The stock has a market cap of $46.29 million, a P/E ratio of -0.56 and a beta of -0.66.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.11. The firm had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $0.80 million. Equities analysts forecast that Proteostasis Therapeutics will post -1.45 earnings per share for the current year.

Several large investors have recently made changes to their positions in PTI. Great Point Partners LLC acquired a new stake in shares of Proteostasis Therapeutics during the 4th quarter worth approximately $9,867,000. BlackRock Inc. boosted its stake in Proteostasis Therapeutics by 61.1% in the 4th quarter. BlackRock Inc. now owns 2,920,723 shares of the company’s stock valued at $9,464,000 after buying an additional 1,107,731 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Proteostasis Therapeutics in the 4th quarter valued at $2,430,000. Deutsche Bank AG boosted its stake in Proteostasis Therapeutics by 527.2% in the 4th quarter. Deutsche Bank AG now owns 321,121 shares of the company’s stock valued at $1,040,000 after buying an additional 269,918 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. acquired a new stake in Proteostasis Therapeutics in the 4th quarter valued at $810,000. 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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