Proteostasis Therapeutics Inc. (PTI) Receives $17.00 Consensus PT from Analysts
Proteostasis Therapeutics Inc. (NASDAQ:PTI) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock. One investment 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 average 12-month price objective among analysts that have covered the stock in the last year is $17.00.
A number of brokerages have weighed in on PTI. Zacks Investment Research downgraded shares of Proteostasis Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Leerink Swann reissued a “buy” rating and issued a $20.00 price target on shares of Proteostasis Therapeutics in a report on Friday, August 12th.
Shares of Proteostasis Therapeutics (NASDAQ:PTI) opened at 13.02 on Thursday. The stock’s 50 day moving average is $14.27 and its 200-day moving average is $13.19. The stock’s market capitalization is $249.76 million. Proteostasis Therapeutics has a one year low of $5.27 and a one year high of $20.63.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its earnings results on Monday, August 15th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by $0.06. On average, equities research analysts expect that Proteostasis Therapeutics will post ($2.22) EPS for the current year.
In other Proteostasis Therapeutics news, major shareholder Enterprise Associates 12 New bought 461,538 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were bought at an average price of $13.00 per share, for a total transaction of $5,999,994.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Franklin M. Berger bought 69,230 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $899,990.00. Following the acquisition, the director now directly owns 166,162 shares in the company, valued at $2,160,106. The disclosure for this purchase can be found here. Company insiders own 29.50% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Cormorant Asset Management LLC acquired a new position in shares of Proteostasis Therapeutics during the first quarter worth $16,644,000. Franklin Resources Inc. acquired a new position in shares of Proteostasis Therapeutics during the second quarter worth $7,581,000. Vanguard Group Inc. acquired a new position in shares of Proteostasis Therapeutics during the second quarter worth $2,558,000. BlackRock Fund Advisors increased its position in shares of Proteostasis Therapeutics by 1,124.5% in the second quarter. BlackRock Fund Advisors now owns 164,771 shares of the company’s stock worth $1,999,000 after buying an additional 151,315 shares in the last quarter. Finally, Opaleye Management Inc. acquired a new position in shares of Proteostasis Therapeutics during the second quarter worth $1,274,000. Institutional investors own 40.02% of the company’s stock.
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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