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. “
Several other brokerages have also commented on PTI. Cantor Fitzgerald initiated coverage on Inovio Pharmaceuticals in a research note on Monday, March 25th. They set an overweight rating and a $3.62 price target for the company. ValuEngine lowered Intersect ENT from a buy rating to a hold rating in a research note on Monday, July 8th. Finally, Piper Jaffray Companies upped their price target on 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 issued a buy rating to the stock. Proteostasis Therapeutics presently has an average rating of Hold and an average price target of $9.63.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.28) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.11. The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $0.80 million. Research analysts predict that Proteostasis Therapeutics will post -1.45 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of Proteostasis Therapeutics in the fourth quarter worth about $41,000. Virtu Financial LLC purchased a new stake in shares of Proteostasis Therapeutics in the first quarter worth about $25,000. American International Group Inc. boosted its position in shares of Proteostasis Therapeutics by 32.9% in the fourth quarter. American International Group Inc. now owns 22,574 shares of the company’s stock worth $73,000 after buying an additional 5,593 shares during the period. New York State Common Retirement Fund boosted its position in shares of Proteostasis Therapeutics by 6,175.0% in the fourth quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after buying an additional 24,700 shares during the period. Finally, Barclays PLC boosted its position in shares of Proteostasis Therapeutics by 113.3% in the fourth quarter. Barclays PLC now owns 34,398 shares of the company’s stock worth $112,000 after buying an additional 18,271 shares during the period. 60.15% of the stock is owned by institutional investors.
Proteostasis Therapeutics Company Profile
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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