Proteostasis Therapeutics Inc (NASDAQ:PTI) – Investment analysts at Piper Jaffray Companies dropped their FY2018 EPS estimates for Proteostasis Therapeutics in a report released on Wednesday, November 7th, according to Zacks Investment Research. Piper Jaffray Companies analyst E. Tenthoff now expects that the company will earn ($1.64) per share for the year, down from their prior estimate of ($1.60). Piper Jaffray Companies currently has a “Overweight” rating and a $14.00 price target on the stock. Piper Jaffray Companies also issued estimates for Proteostasis Therapeutics’ Q4 2018 earnings at ($0.41) EPS, Q1 2019 earnings at ($0.46) EPS, Q2 2019 earnings at ($0.52) EPS, Q3 2019 earnings at ($0.52) EPS, Q4 2019 earnings at ($0.57) EPS and FY2019 earnings at ($2.06) EPS.
A number of other research firms also recently issued reports on PTI. Zacks Investment Research downgraded Proteostasis Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. BidaskClub downgraded Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Royal Bank of Canada raised Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 18th. Finally, ValuEngine raised Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Proteostasis Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $13.86.
Proteostasis Therapeutics (NASDAQ:PTI) last released 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 analyst estimates of $0.83 million. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 104.17%.
In other news, Director Franklin M. Berger bought 40,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 266,162 shares of the company’s stock, valued at $1,796,593.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 19.80% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of Proteostasis Therapeutics by 156.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock valued at $131,000 after buying an additional 28,600 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Proteostasis Therapeutics in the second quarter valued at approximately $141,000. Bank of New York Mellon Corp boosted its stake in shares of Proteostasis Therapeutics by 252.8% in the second quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock valued at $174,000 after buying an additional 44,653 shares during the period. Northern Trust Corp boosted its stake in shares of Proteostasis Therapeutics by 82.2% in the first quarter. Northern Trust Corp now owns 43,034 shares of the company’s stock valued at $204,000 after buying an additional 19,416 shares during the period. Finally, Baird Financial Group Inc. bought a new stake in shares of Proteostasis Therapeutics in the third quarter valued at approximately $213,000. 63.03% of the stock is currently owned by institutional investors.
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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