Zacks Investment Research upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a buy rating in a report released on Saturday, Zacks.com reports. They currently have $1.25 price objective 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. Piper Sandler raised Proteostasis Therapeutics from a neutral rating to an overweight rating in a report on Wednesday. HC Wainwright reissued a buy rating on shares of Proteostasis Therapeutics in a research note on Tuesday, August 11th. Finally, ValuEngine downgraded Proteostasis Therapeutics from a buy rating to a hold rating in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $4.54.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its earnings results on Thursday, August 6th. The company reported ($0.17) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. Equities research analysts predict that Proteostasis Therapeutics will post -0.73 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the company. WINTON GROUP Ltd raised its stake in Proteostasis Therapeutics by 21.3% during the 2nd quarter. WINTON GROUP Ltd now owns 824,750 shares of the company’s stock worth $1,130,000 after buying an additional 144,631 shares during the period. Bridgeway Capital Management Inc. raised its stake in Proteostasis Therapeutics by 166.7% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 320,000 shares of the company’s stock worth $438,000 after buying an additional 200,000 shares during the period. Two Sigma Advisers LP raised its stake in Proteostasis Therapeutics by 10.5% during the 2nd quarter. Two Sigma Advisers LP now owns 186,600 shares of the company’s stock worth $256,000 after buying an additional 17,700 shares during the period. RBF Capital LLC raised its stake in Proteostasis Therapeutics by 59.2% during the 1st quarter. RBF Capital LLC now owns 166,078 shares of the company’s stock worth $189,000 after buying an additional 61,725 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Proteostasis Therapeutics during the 1st quarter worth approximately $183,000. 16.64% of the stock is currently owned by institutional investors.
About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the discovery and development of novel therapeutics to treat cystic fibrosis. The company's lead product candidates for the treatment of CF include PTI-801, a cystic fibrosis transmembrane conductance regulator (CFTR) corrector agent; PTI-808, a CFTR potentiator; and PTI-428, a CFTR amplifier.
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