Proteostasis Therapeutics (PTI) Downgraded by ValuEngine to Strong Sell

ValuEngine downgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a sell rating to a strong sell rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also recently commented on PTI. Zacks Investment Research cut Proteostasis Therapeutics from a hold rating to a sell rating in a research note on Saturday, November 18th. Robert W. Baird raised their price objective on Proteostasis Therapeutics from $13.00 to $25.00 and gave the company an outperform rating in a research note on Tuesday, December 12th. Leerink Swann lifted their target price on Proteostasis Therapeutics from $6.00 to $8.00 in a research report on Tuesday, December 12th. Finally, HC Wainwright reaffirmed a buy rating and set a $15.00 target price on shares of Proteostasis Therapeutics in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $16.00.

Shares of Proteostasis Therapeutics (NASDAQ PTI) opened at $6.00 on Friday. Proteostasis Therapeutics has a one year low of $1.41 and a one year high of $16.67. The company has a market capitalization of $198.68 and a P/E ratio of -2.71.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Tuesday, November 14th. The company reported ($0.56) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.72) by $0.16. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. The firm had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.38 million. equities research analysts anticipate that Proteostasis Therapeutics will post -2.47 earnings per share for the current fiscal year.

In related news, major shareholder Enterprise Associates 12 New bought 2,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average price of $5.00 per share, with a total value of $10,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Cormorant Asset Management, Ll sold 504,027 shares of Proteostasis Therapeutics stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $4.88, for a total value of $2,459,651.76. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 2,100,000 shares of company stock worth $10,500,000. 17.40% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in Proteostasis Therapeutics by 364.3% during the second quarter. Goldman Sachs Group Inc. now owns 51,911 shares of the company’s stock worth $243,000 after acquiring an additional 40,731 shares during the period. Susquehanna International Group LLP bought a new stake in Proteostasis Therapeutics during the second quarter worth $254,000. Dimensional Fund Advisors LP bought a new stake in Proteostasis Therapeutics during the second quarter worth $296,000. Sabby Management LLC lifted its holdings in Proteostasis Therapeutics by 109.6% during the second quarter. Sabby Management LLC now owns 125,151 shares of the company’s stock worth $586,000 after acquiring an additional 65,451 shares during the period. Finally, Bain Capital Public Equity Management LLC bought a new stake in Proteostasis Therapeutics during the second quarter worth $1,233,000. Institutional investors and hedge funds own 51.80% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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