$980,000.00 in Sales Expected for Proteostasis Therapeutics Inc (PTI) This Quarter

Analysts expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to report sales of $980,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings, with estimates ranging from $950,000.00 to $1.00 million. Proteostasis Therapeutics reported sales of $1.62 million in the same quarter last year, which indicates a negative year over year growth rate of 39.5%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, March 13th.

According to Zacks, analysts expect that Proteostasis Therapeutics will report full year sales of $3.82 million for the current fiscal year, with estimates ranging from $3.79 million to $3.84 million. For the next financial year, analysts anticipate that the business will post sales of $3.70 million, with estimates ranging from $3.50 million to $3.89 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Proteostasis Therapeutics.

Proteostasis Therapeutics (NASDAQ:PTI) last released its earnings results on Tuesday, November 6th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.04). Proteostasis Therapeutics had a negative return on equity of 104.17% and a negative net margin of 1,307.84%. The company had revenue of $1.06 million during the quarter, compared to analysts’ expectations of $0.83 million.

Several research firms have recently commented on PTI. Cantor Fitzgerald began coverage on shares of Proteostasis Therapeutics in a report on Tuesday, November 6th. They issued a “buy” rating and a $21.00 target price on the stock. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 15th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. ValuEngine raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. Finally, Piper Jaffray Companies began coverage on shares of Proteostasis Therapeutics in a research note on Monday, October 29th. They set an “overweight” rating and a $14.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.86.

In other Proteostasis Therapeutics news, Director Franklin M. Berger purchased 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were bought 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 directly owns 266,162 shares in the company, valued at $1,796,593.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of PTI. BlackRock Inc. increased its position in 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 last quarter. Northern Trust Corp increased its position in 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 last quarter. Baird Financial Group Inc. bought a new position in Proteostasis Therapeutics during the third quarter valued at $213,000. Bailard Inc. increased its position in Proteostasis Therapeutics by 12.0% during the second quarter. Bailard Inc. now owns 582,400 shares of the company’s stock valued at $1,625,000 after acquiring an additional 62,300 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Proteostasis Therapeutics during the second quarter valued at $141,000. Institutional investors and hedge funds own 63.03% of the company’s stock.

Shares of PTI stock traded up $0.07 during mid-day trading on Wednesday, hitting $5.14. The company had a trading volume of 308,085 shares, compared to its average volume of 1,565,250. Proteostasis Therapeutics has a 52-week low of $1.71 and a 52-week high of $10.38. The company has a market capitalization of $186.05 million, a PE ratio of -2.20 and a beta of -3.31.

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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