Zacks Investment Research lowered shares of Proteostasis Therapeutics (NASDAQ:PTI) from a hold rating to a sell rating in a research note published on Wednesday.

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. “

PTI has been the topic of a number of other reports. Cantor Fitzgerald began coverage on Proteostasis Therapeutics in a research note on Tuesday, November 6th. They issued a buy rating and a $21.00 target price on the stock. HC Wainwright reiterated a buy rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. ValuEngine upgraded Proteostasis Therapeutics from a hold rating to a buy rating in a research note on Thursday, October 18th. Piper Jaffray Companies began coverage on Proteostasis Therapeutics in a research note on Monday, October 29th. They issued an overweight rating and a $14.00 target price on the stock. Finally, Royal Bank of Canada upgraded Proteostasis Therapeutics from a sector perform rating to an outperform rating in a research note on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Proteostasis Therapeutics presently has an average rating of Buy and an average price target of $13.86.

PTI stock opened at $4.75 on Wednesday. Proteostasis Therapeutics has a 1 year low of $1.71 and a 1 year high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its earnings results on Tuesday, November 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.04). The company had revenue of $1.06 million during the quarter, compared to the consensus estimate of $0.83 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 104.17%. Analysts predict that Proteostasis Therapeutics will post -1.84 EPS for the current year.

In related news, Director Franklin M. Berger bought 40,000 shares of the business’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $6.75 per share, for a total transaction of $270,000.00. Following the completion of the purchase, the director now owns 266,162 shares of the company’s stock, valued at approximately $1,796,593.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 19.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. bought a new stake in shares of Proteostasis Therapeutics during the third quarter valued at about $213,000. Jennison Associates LLC raised its stake in shares of Proteostasis Therapeutics by 0.7% during the third quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock valued at $8,893,000 after purchasing an additional 26,428 shares in the last quarter. Northern Trust Corp raised its stake in shares of Proteostasis Therapeutics by 526.1% during the second quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock valued at $752,000 after purchasing an additional 226,417 shares in the last quarter. BlackRock Inc. raised its stake in shares of Proteostasis Therapeutics by 3,693.4% during the second quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock valued at $5,043,000 after purchasing an additional 1,760,063 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Proteostasis Therapeutics by 156.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock valued at $131,000 after purchasing an additional 28,600 shares in the last quarter. Institutional investors and hedge funds own 63.03% of the company’s stock.

About Proteostasis Therapeutics

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis and other diseases caused by an imbalance in the proteostasis network. Its lead product candidate is PTI-428, an orally bioavailable cystic fibrosis transmembrane conductance regulator modulator belonging to the amplifier class, which is in Phase II study.

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