Zacks Investment Research Downgrades Proteostasis Therapeutics Inc. (PTI) to Sell
Proteostasis Therapeutics Inc. (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
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. “
Separately, Leerink Swann reissued a “buy” rating and set a $20.00 target price on shares of Proteostasis Therapeutics in a research report on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $17.00.
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Proteostasis Therapeutics (NASDAQ:PTI) opened at 12.64 on Friday. Proteostasis Therapeutics has a 1-year low of $5.27 and a 1-year high of $20.63. The company’s 50-day moving average is $13.68 and its 200 day moving average is $12.13. The stock’s market capitalization is $242.47 million.
Proteostasis Therapeutics (NASDAQ:PTI) last released its earnings results on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.06. Equities analysts predict that Proteostasis Therapeutics will post ($2.49) earnings per share for the current year.
Other hedge funds have made changes to their positions in the company. BlackRock Fund Advisors acquired a new stake in shares of Proteostasis Therapeutics during the first quarter valued at approximately $130,000. Goldman Sachs Group Inc. acquired a new stake in shares of Proteostasis Therapeutics during the first quarter valued at approximately $155,000. Geode Capital Management LLC acquired a new stake in shares of Proteostasis Therapeutics during the first quarter valued at approximately $412,000. Finally, Cormorant Asset Management LLC acquired a new stake in shares of Proteostasis Therapeutics during the first quarter valued at approximately $16,644,000. Institutional investors and hedge funds own 50.35% of the company’s stock.
Proteostasis Therapeutics Company Profile
Proteostasis Therapeutics, Inc is a United States-based biopharmaceutical company developing small molecule therapeutics to treat diseases caused by defects in protein processing. The Company identifies selective drug candidates that modulate the proteostasis imbalance in the cell by combining the Disease-Relevant Translation, DRT platform, which is a phenotypic screening approach based on the use of functionally pertinent cellular assays and disease relevant models.
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