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 report issued 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 reiterated a “buy” rating and set a $20.00 target price on shares of Proteostasis Therapeutics in a research report on Friday, August 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $17.00.
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Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 13.36 on Friday. Proteostasis Therapeutics has a 52-week low of $5.27 and a 52-week high of $20.63. The stock’s market capitalization is $256.28 million. The stock has a 50 day moving average of $13.63 and a 200-day moving average of $12.08.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings results on Monday, August 15th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.06. Analysts predict that Proteostasis Therapeutics will post ($2.49) EPS for the current fiscal year.
Several hedge funds have added to or reduced their stakes in the company. Cormorant Asset Management LLC purchased a new stake in Proteostasis Therapeutics during the first quarter valued at $16,644,000. Geode Capital Management LLC purchased a new stake in Proteostasis Therapeutics during the first quarter valued at $412,000. Goldman Sachs Group Inc. purchased a new stake in Proteostasis Therapeutics during the first quarter valued at $155,000. Finally, BlackRock Fund Advisors purchased a new stake in Proteostasis Therapeutics during the first quarter valued at $130,000. Institutional investors and hedge funds own 50.35% of the company’s stock.
About Proteostasis Therapeutics
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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