Proteostasis Therapeutics Inc (NASDAQ:PTI)’s share price shot up 5.9% during trading on Friday . The stock traded as high as $3.95 and last traded at $3.93. 1,149,866 shares were traded during trading, an increase of 51% from the average session volume of 759,746 shares. The stock had previously closed at $3.71.
Several brokerages have commented on PTI. Cantor Fitzgerald began coverage on Proteostasis Therapeutics in a report on Tuesday, November 6th. They set a “buy” rating and a $21.00 price target on the stock. Zacks Investment Research upgraded Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 15th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a report on Thursday, October 18th. ValuEngine upgraded Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Finally, Piper Jaffray Companies began coverage on Proteostasis Therapeutics in a report on Monday, October 29th. They set an “overweight” rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $12.80.
The company has a market capitalization of $135.41 million, a PE ratio of -1.68 and a beta of -0.84.
Proteostasis Therapeutics (NASDAQ:PTI) last announced its quarterly earnings data on Tuesday, November 6th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.04). The company had revenue of $1.06 million during the quarter, compared to analyst estimates of $0.83 million. Proteostasis Therapeutics had a negative return on equity of 104.17% and a negative net margin of 1,307.84%. On average, research analysts forecast that Proteostasis Therapeutics Inc will post -1.68 earnings per share for the current year.
In related news, Director Franklin M. Berger acquired 40,000 shares of the stock in a transaction dated Friday, October 26th. The shares were acquired at an average price 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 in the company, valued at approximately $1,796,593.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.80% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its stake in Proteostasis Therapeutics by 156.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after buying an additional 28,600 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Proteostasis Therapeutics by 252.8% during the second quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock valued at $174,000 after acquiring an additional 44,653 shares during the period. Baird Financial Group Inc. bought a new position in shares of Proteostasis Therapeutics during the third quarter valued at $213,000. Northern Trust Corp lifted its holdings 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 acquiring an additional 226,417 shares during the period. Finally, BlackRock Inc. lifted its holdings 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 acquiring an additional 1,760,063 shares during the period. Hedge funds and other institutional investors own 63.03% of the company’s stock.
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About Proteostasis Therapeutics (NASDAQ:PTI)
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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