Analysts Set Proteostasis Therapeutics Inc (PTI) Price Target at $14.75

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.

How to Become a New Pot Stock Millionaire

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.

In other news, insider Meenu Chhabra bought 40,000 shares of Proteostasis Therapeutics stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average price of $5.00 per share, for a total transaction of $200,000.00. Following the purchase, the insider now directly owns 50,218 shares of the company’s stock, valued at approximately $251,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Enterprise Associates 12 New bought 2,000,000 shares of Proteostasis Therapeutics stock in a transaction that occurred on Monday, December 18th. The stock was purchased at an average price of $5.00 per share, with a total value of $10,000,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 2,100,000 shares of company stock valued at $10,500,000 in the last 90 days. 17.40% of the stock is currently owned by company insiders.

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.

TRADEMARK VIOLATION WARNING: This news story was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at https://www.chaffeybreeze.com/2018/03/16/analysts-set-proteostasis-therapeutics-inc-pti-price-target-at-14-75.html.

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.

Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply