Proteostasis Therapeutics Inc (NASDAQ:PTI) – Equities research analysts at Cantor Fitzgerald boosted their FY2019 earnings estimates for shares of Proteostasis Therapeutics in a report issued on Wednesday, March 13th. Cantor Fitzgerald analyst E. Piros now anticipates that the company will earn ($1.54) per share for the year, up from their previous estimate of ($1.61). Cantor Fitzgerald has a “Buy” rating and a $21.00 price target on the stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Friday. ValuEngine downgraded Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $11.90.
In other news, insider Meenu Chhabra sold 16,478 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $2.99, for a total value of $49,269.22. Following the completion of the sale, the insider now directly owns 97,093 shares of the company’s stock, valued at $290,308.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.80% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. Great Point Partners LLC bought a new stake in Proteostasis Therapeutics during the 4th quarter valued at approximately $9,867,000. Sectoral Asset Management Inc purchased a new stake in Proteostasis Therapeutics during the 4th quarter valued at $5,125,000. venBio Select Advisor LLC purchased a new stake in Proteostasis Therapeutics during the 4th quarter valued at $4,212,000. BlackRock Inc. raised its stake in Proteostasis Therapeutics by 61.1% during 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 during the last quarter. Finally, Hillhouse Capital Advisors Ltd. purchased a new stake in Proteostasis Therapeutics during the 4th quarter valued at $2,806,000.
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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