Proteostasis Therapeutics Inc. (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
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 issued a $20.00 price target on shares of Proteostasis Therapeutics in a research note 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 issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.00.
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Proteostasis Therapeutics (NASDAQ:PTI) opened at 12.52 on Thursday. The company’s 50 day moving average price is $13.86 and its 200 day moving average price is $12.31. The firm’s market cap is $240.17 million. Proteostasis Therapeutics has a 52-week low of $5.27 and a 52-week high of $20.63.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings data on Monday, August 15th. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.06. Analysts predict that Proteostasis Therapeutics will post ($2.36) earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. bought a new position in shares of Proteostasis Therapeutics during the second quarter valued at $122,000. Teachers Advisors Inc. bought a new position in shares of Proteostasis Therapeutics during the second quarter valued at $126,000. BlackRock Fund Advisors bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at $130,000. Goldman Sachs Group Inc. bought a new position in shares of Proteostasis Therapeutics during the first quarter valued at $155,000. Finally, California State Teachers Retirement System bought a new position in shares of Proteostasis Therapeutics during the second quarter valued at $161,000. Institutional investors 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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