Proteostasis Therapeutics (NASDAQ:PTI) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Proteostasis Therapeutics (NASDAQ:PTI) from a sell rating to a hold rating in a report issued on Friday, June 7th, ValuEngine reports.

Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies cut their target price on shares of Proteostasis Therapeutics to $5.00 and set an overweight rating for the company in a research note on Thursday, May 9th. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a hold rating to a buy rating and set a $4.50 target price for the company in a research note on Friday, March 15th. Finally, Cantor Fitzgerald restated a buy rating and set a $14.00 target price on shares of Proteostasis Therapeutics in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $9.63.

PTI stock traded up $0.04 during trading hours on Friday, reaching $0.98. The stock had a trading volume of 3,722,431 shares, compared to its average volume of 1,706,038. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.30 and a quick ratio of 11.29. The company’s 50-day moving average is $1.04. Proteostasis Therapeutics has a fifty-two week low of $0.91 and a fifty-two week high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.11. The firm had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.80 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 84.01%. As a group, equities research analysts anticipate that Proteostasis Therapeutics will post -1.45 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. American International Group Inc. grew its holdings in shares of Proteostasis Therapeutics by 32.9% during the 4th quarter. American International Group Inc. now owns 22,574 shares of the company’s stock valued at $73,000 after purchasing an additional 5,593 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Proteostasis Therapeutics during the 4th quarter valued at approximately $41,000. Rhumbline Advisers grew its holdings in shares of Proteostasis Therapeutics by 70.3% during the 4th quarter. Rhumbline Advisers now owns 36,418 shares of the company’s stock valued at $118,000 after purchasing an additional 15,030 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Proteostasis Therapeutics by 8,649.2% during the 4th quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock valued at $51,000 after purchasing an additional 15,309 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Proteostasis Therapeutics by 113.3% during the 4th quarter. Barclays PLC now owns 34,398 shares of the company’s stock valued at $112,000 after purchasing an additional 18,271 shares during the last quarter. 60.15% of the stock is currently owned by hedge funds and other institutional investors.

Proteostasis Therapeutics Company Profile

Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.

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