Zacks: Analysts Anticipate Proteostasis Therapeutics Inc (PTI) to Announce -$0.46 EPS

Brokerages expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to post earnings per share of ($0.46) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Proteostasis Therapeutics’ earnings. The highest EPS estimate is ($0.45) and the lowest is ($0.47). Proteostasis Therapeutics posted earnings per share of ($0.56) during the same quarter last year, which indicates a positive year-over-year growth rate of 17.9%. The company is scheduled to report its next earnings report on Tuesday, November 13th.

On average, analysts expect that Proteostasis Therapeutics will report full-year earnings of ($1.88) per share for the current financial year, with EPS estimates ranging from ($2.32) to ($1.64). For the next fiscal year, analysts anticipate that the business will report earnings of ($2.08) per share, with EPS estimates ranging from ($2.37) to ($1.81). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last announced its earnings results on Wednesday, August 8th. The company reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.04). The company had revenue of $0.84 million for the quarter, compared to analysts’ expectations of $1.16 million. Proteostasis Therapeutics had a negative return on equity of 104.16% and a negative net margin of 1,309.13%.

PTI has been the subject of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Proteostasis Therapeutics in a research note on Tuesday. They set a “buy” rating and a $21.00 target price for the company. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday, October 23rd. ValuEngine raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. Finally, Royal Bank of Canada raised shares of Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $13.86.

In other Proteostasis Therapeutics news, Director Franklin M. Berger acquired 40,000 shares of the stock in a transaction dated Friday, October 26th. The stock was acquired at an average price of $6.75 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 19.80% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in shares of Proteostasis Therapeutics in the 2nd quarter valued at $141,000. Bailard Inc. boosted its position in shares of Proteostasis Therapeutics by 12.0% in the 2nd quarter. Bailard Inc. now owns 582,400 shares of the company’s stock worth $1,625,000 after buying an additional 62,300 shares in the last quarter. Northern Trust Corp boosted its position in shares of Proteostasis Therapeutics by 82.2% in the 1st quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock worth $204,000 after buying an additional 19,416 shares in the last quarter. Barclays PLC boosted its position in shares of Proteostasis Therapeutics by 2,396.9% in the 1st quarter. Barclays PLC now owns 54,957 shares of the company’s stock worth $261,000 after buying an additional 52,756 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Proteostasis Therapeutics by 3,693.4% in the 2nd quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock worth $5,043,000 after buying an additional 1,760,063 shares in the last quarter. 64.57% of the stock is currently owned by hedge funds and other institutional investors.

PTI stock traded down $0.17 during mid-day trading on Friday, hitting $7.02. 659,377 shares of the company were exchanged, compared to its average volume of 7,768,375. The firm has a market cap of $253.58 million, a PE ratio of -3.00 and a beta of -3.25. Proteostasis Therapeutics has a 12-month low of $1.41 and a 12-month high of $10.38.

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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