Proteostasis Therapeutics (NASDAQ:PTI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a buy rating in a research note released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 target price on the stock.
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. “
PTI has been the topic of several other reports. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Cantor Fitzgerald began coverage on shares of Inovio Pharmaceuticals in a research note on Monday, March 25th. They issued an overweight rating and a $3.62 price target on the stock. Finally, Piper Jaffray Companies raised their price target on shares of Beigene to $180.00 and gave the stock an overweight rating in a research note on Thursday, May 9th. Two equities research 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 has a consensus rating of Hold and a consensus price target of $8.75.
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 Thomson Reuters’ 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. As a group, analysts expect that Proteostasis Therapeutics will post -1.45 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Proteostasis Therapeutics during the first quarter worth about $290,000. Algert Global LLC purchased a new position in Proteostasis Therapeutics during the first quarter worth about $81,000. Hikari Power Ltd purchased a new position in Proteostasis Therapeutics during the first quarter worth about $63,000. Virtu Financial LLC purchased a new position in Proteostasis Therapeutics during the first quarter worth about $25,000. Finally, Deutsche Bank AG raised its stake in Proteostasis Therapeutics by 527.2% during the fourth quarter. Deutsche Bank AG now owns 321,121 shares of the company’s stock worth $1,040,000 after purchasing an additional 269,918 shares during the period. 60.15% of the stock is currently owned by hedge funds and other 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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