Proteostasis Therapeutics Inc (PTI) Given Consensus Recommendation of “Buy” by Analysts

Shares of Proteostasis Therapeutics Inc (NASDAQ:PTI) have been given an average rating of “Buy” by the seven research firms that are covering the firm, MarketBeat Ratings reports. One investment 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 average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.88.

Several equities analysts recently issued reports on PTI shares. Cantor Fitzgerald reissued a “buy” rating and set a $14.00 price objective on shares of Proteostasis Therapeutics in a report on Monday, March 25th. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Friday, March 15th.

In other Proteostasis Therapeutics news, insider Meenu Chhabra sold 16,478 shares of Proteostasis Therapeutics stock in a transaction on Monday, February 4th. The shares were sold at an average price of $2.99, for a total value of $49,269.22. Following the transaction, the insider now directly owns 97,093 shares of the company’s stock, valued at $290,308.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 19.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. grew its holdings in Proteostasis Therapeutics by 32.9% in the fourth quarter. American International Group Inc. now owns 22,574 shares of the company’s stock worth $73,000 after purchasing an additional 5,593 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Proteostasis Therapeutics in the fourth quarter worth $37,000. Jane Street Group LLC purchased a new position in Proteostasis Therapeutics in the fourth quarter worth $41,000. Rhumbline Advisers grew its holdings in Proteostasis Therapeutics by 70.3% in the fourth quarter. Rhumbline Advisers now owns 36,418 shares of the company’s stock worth $118,000 after purchasing an additional 15,030 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Proteostasis Therapeutics by 8,649.2% in the fourth quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock worth $51,000 after purchasing an additional 15,309 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of PTI stock opened at $1.20 on Monday. The company has a market cap of $61.25 million, a P/E ratio of -0.75 and a beta of -0.95. Proteostasis Therapeutics has a 52-week low of $1.17 and a 52-week high of $10.38.

Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings data on Friday, March 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.46) by $0.10. Proteostasis Therapeutics had a negative net margin of 1,307.84% and a negative return on equity of 91.71%. As a group, equities analysts predict that Proteostasis Therapeutics will post -1.93 EPS for the current year.

Proteostasis Therapeutics Company Profile

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.

Read More: Why do companies issue convertible shares?

Receive News & Ratings for Proteostasis Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Proteostasis Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.