$830,000.00 in Sales Expected for Proteostasis Therapeutics Inc (PTI) This Quarter

Wall Street brokerages expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to announce $830,000.00 in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings, with estimates ranging from $800,000.00 to $850,000.00. Proteostasis Therapeutics posted sales of $1.55 million in the same quarter last year, which suggests a negative year-over-year growth rate of 46.5%. The company is expected to issue its next quarterly earnings report on Tuesday, November 13th.

According to Zacks, analysts expect that Proteostasis Therapeutics will report full-year sales of $3.44 million for the current financial year, with estimates ranging from $3.39 million to $3.49 million. For the next year, analysts expect that the company will report sales of $3.52 million, with estimates ranging from $3.50 million to $3.53 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.04). The firm had revenue of $0.84 million during the quarter, compared to analyst estimates of $1.16 million. Proteostasis Therapeutics had a negative net margin of 1,086.77% and a negative return on equity of 96.44%.

Several brokerages have issued reports on PTI. ValuEngine raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Tuesday, October 23rd. BidaskClub raised shares of Proteostasis Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Cantor Fitzgerald assumed coverage on shares of Proteostasis Therapeutics in a research note on Tuesday. They set a “buy” rating and a $21.00 price target on the stock. Finally, Piper Jaffray Companies assumed coverage on shares of Proteostasis Therapeutics in a research note on Monday, October 29th. They set an “overweight” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $13.86.

PTI traded up $0.28 during trading on Monday, hitting $7.19. The stock had a trading volume of 1,055,274 shares, compared to its average volume of 1,631,517. The stock has a market capitalization of $251.01 million, a P/E ratio of -3.06 and a beta of -3.25. Proteostasis Therapeutics has a twelve month low of $1.41 and a twelve month high of $10.38.

In related news, Director Franklin M. Berger purchased 40,000 shares of the stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $6.75 per share, with a total value of $270,000.00. Following the purchase, the director now directly owns 266,162 shares in the company, valued at approximately $1,796,593.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 19.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its position in shares of Proteostasis Therapeutics by 0.7% in the 3rd quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock worth $8,893,000 after buying an additional 26,428 shares in the last quarter. Northern Trust Corp lifted its holdings in Proteostasis Therapeutics by 526.1% in the 2nd quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock valued at $752,000 after purchasing an additional 226,417 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Proteostasis Therapeutics by 252.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock valued at $174,000 after purchasing an additional 44,653 shares in the last quarter. BlackRock Inc. lifted its holdings in Proteostasis Therapeutics by 3,693.4% in the 2nd quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock valued at $5,043,000 after purchasing an additional 1,760,063 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Proteostasis Therapeutics by 156.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock valued at $131,000 after purchasing an additional 28,600 shares in the last quarter. Institutional investors and hedge funds own 64.57% of the company’s stock.

About Proteostasis Therapeutics

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.

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