Proteostasis Therapeutics Inc (NASDAQ:PTI) – Stock analysts at Leerink Swann raised their FY2018 earnings per share estimates for Proteostasis Therapeutics in a research report issued to clients and investors on Wednesday. Leerink Swann analyst J. Schwartz now anticipates that the company will post earnings per share of ($1.49) for the year, up from their previous estimate of ($1.57). Leerink Swann currently has a “Outperform” rating and a $9.00 price target on the stock. Leerink Swann also issued estimates for Proteostasis Therapeutics’ FY2019 earnings at ($1.18) EPS and FY2020 earnings at ($1.20) EPS.
Separately, Zacks Investment Research lowered Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 18th.
Proteostasis Therapeutics (NASDAQ:PTI) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.16. The business had revenue of $1.55 million during the quarter, compared to analyst estimates of $1.38 million. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%.
Several hedge funds and other institutional investors have recently made changes to their positions in PTI. JPMorgan Chase & Co. raised its stake in shares of Proteostasis Therapeutics by 425.4% in the third quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock valued at $2,361,000 after acquiring an additional 910,550 shares in the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in shares of Proteostasis Therapeutics in the second quarter valued at $1,233,000. Jennison Associates LLC raised its stake in shares of Proteostasis Therapeutics by 6.2% in the second quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock valued at $9,713,000 after acquiring an additional 120,575 shares in the last quarter. FMR LLC raised its stake in shares of Proteostasis Therapeutics by 2.3% in the second quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after acquiring an additional 66,111 shares in the last quarter. Finally, Sabby Management LLC raised its stake in shares of Proteostasis Therapeutics by 109.6% in the second quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock valued at $586,000 after acquiring an additional 65,451 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.
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About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models.
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