Proteostasis Therapeutics Inc (NASDAQ:PTI) has received a consensus rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $14.75.
PTI has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Proteostasis Therapeutics from $13.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Zacks Investment Research raised Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Leerink Swann raised their target price on Proteostasis Therapeutics from $6.00 to $8.00 in a research note on Tuesday, December 12th. ValuEngine lowered Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st. Finally, HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research note on Tuesday, December 19th.
Proteostasis Therapeutics (NASDAQ:PTI) traded up $0.21 during trading on Friday, hitting $7.29. The stock had a trading volume of 4,295,564 shares, compared to its average volume of 2,000,070. The firm has a market cap of $226.03, a PE ratio of -3.28 and a beta of 6.66. Proteostasis Therapeutics has a 52-week low of $1.41 and a 52-week high of $13.16.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTI. RTW Investments LP purchased a new position in shares of Proteostasis Therapeutics during the 4th quarter valued at about $8,745,000. Jennison Associates LLC raised its stake in shares of Proteostasis Therapeutics by 53.5% during the 4th quarter. Jennison Associates LLC now owns 3,178,432 shares of the company’s stock valued at $18,530,000 after buying an additional 1,107,496 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Proteostasis Therapeutics by 425.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,124,602 shares of the company’s stock valued at $2,361,000 after buying an additional 910,550 shares during the last quarter. Millennium Management LLC raised its stake in shares of Proteostasis Therapeutics by 434.2% during the 4th quarter. Millennium Management LLC now owns 953,513 shares of the company’s stock valued at $5,559,000 after buying an additional 775,019 shares during the last quarter. Finally, J. Goldman & Co LP raised its stake in shares of Proteostasis Therapeutics by 1,900.2% during the 4th quarter. J. Goldman & Co LP now owns 550,043 shares of the company’s stock valued at $3,207,000 after buying an additional 522,543 shares during the last quarter. Institutional investors and hedge funds own 70.48% 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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