Piper Jaffray Companies Comments on Proteostasis Therapeutics Inc’s FY2018 Earnings (PTI)

Proteostasis Therapeutics Inc (NASDAQ:PTI) – Equities research analysts at Piper Jaffray Companies reduced their FY2018 earnings per share (EPS) estimates for shares of Proteostasis Therapeutics in a report issued on Wednesday, November 7th. Piper Jaffray Companies analyst E. Tenthoff now anticipates that the company will earn ($1.64) per share for the year, down from their previous forecast of ($1.60). Piper Jaffray Companies currently has a “Overweight” rating and a $14.00 price target on the stock. Piper Jaffray Companies also issued estimates for Proteostasis Therapeutics’ Q4 2018 earnings at ($0.41) EPS, Q1 2019 earnings at ($0.46) EPS, Q2 2019 earnings at ($0.52) EPS, Q3 2019 earnings at ($0.52) EPS, Q4 2019 earnings at ($0.57) EPS and FY2019 earnings at ($2.06) EPS.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. BidaskClub raised shares of Proteostasis Therapeutics from a “strong sell” rating to a “sell” rating in a report on Tuesday. Cantor Fitzgerald initiated coverage on shares of Proteostasis Therapeutics in a report on Tuesday. They issued a “buy” rating and a $21.00 target price on the stock. ValuEngine raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Proteostasis Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $13.86.

NASDAQ PTI opened at $7.19 on Friday. The firm has a market capitalization of $251.01 million, a price-to-earnings ratio of -3.07 and a beta of -3.25. Proteostasis Therapeutics has a one year low of $1.41 and a one year high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). The business 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%.

In related news, Director Franklin M. Berger acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were purchased at an average price of $6.75 per share, with a total value of $270,000.00. Following the completion of the acquisition, the director now owns 266,162 shares in the company, valued at $1,796,593.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.80% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its holdings in shares of Proteostasis Therapeutics by 156.3% in the second 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. Acadian Asset Management LLC purchased a new stake in shares of Proteostasis Therapeutics in the second quarter valued at about $141,000. Bank of New York Mellon Corp lifted its holdings in shares of Proteostasis Therapeutics by 252.8% in the second 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. Northern Trust Corp lifted its holdings in shares of Proteostasis Therapeutics by 82.2% in the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock valued at $204,000 after purchasing an additional 19,416 shares in the last quarter. Finally, Bailard Inc. lifted its holdings in shares of Proteostasis Therapeutics by 12.0% in the second quarter. Bailard Inc. now owns 582,400 shares of the company’s stock valued at $1,625,000 after purchasing an additional 62,300 shares in the last quarter. 64.57% of the stock is currently owned by hedge funds and other institutional investors.

Proteostasis Therapeutics Company Profile

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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Earnings History and Estimates for Proteostasis Therapeutics (NASDAQ:PTI)

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