Proteostasis Therapeutics Inc (NASDAQ:PTI) – Equities researchers at Piper Jaffray Companies issued their Q3 2018 earnings estimates for Proteostasis Therapeutics in a research report issued to clients and investors on Monday, October 29th, according to Zacks Investment Research. Piper Jaffray Companies analyst E. Tenthoff forecasts that the company will post earnings of ($0.47) per share for the quarter. Piper Jaffray Companies currently has a “Overweight” rating and a $14.00 target price on the stock. Piper Jaffray Companies also issued estimates for Proteostasis Therapeutics’ Q4 2018 earnings at ($0.40) EPS, FY2018 earnings at ($1.60) EPS, Q1 2019 earnings at ($0.49) EPS, Q2 2019 earnings at ($0.55) EPS, Q3 2019 earnings at ($0.55) EPS, Q4 2019 earnings at ($0.61) EPS and FY2019 earnings at ($2.20) EPS.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Tuesday, October 23rd. Cantor Fitzgerald began coverage on shares of Proteostasis Therapeutics in a research report on Tuesday, November 6th. They issued a “buy” rating and a $21.00 price objective for the company. ValuEngine raised shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Proteostasis Therapeutics in a research report 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 report on Thursday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Proteostasis Therapeutics presently has a consensus rating of “Buy” and an average target price of $13.86.
Shares of NASDAQ:PTI traded down $0.10 during trading on Wednesday, reaching $5.59. The stock had a trading volume of 1,113,662 shares, compared to its average volume of 2,220,073. Proteostasis Therapeutics has a one year low of $1.71 and a one year high of $10.38. The stock has a market capitalization of $208.81 million, a P/E ratio of -2.39 and a beta of -3.25.
In related news, Director Franklin M. Berger acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $6.75 per share, with a total value of $270,000.00. Following the transaction, the director now directly owns 266,162 shares of the company’s stock, valued at approximately $1,796,593.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 19.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baird Financial Group Inc. purchased a new position in Proteostasis Therapeutics during the 3rd quarter worth approximately $213,000. Jennison Associates LLC raised its position in Proteostasis Therapeutics by 0.7% during the 3rd quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock worth $8,893,000 after buying an additional 26,428 shares during the last quarter. Northern Trust Corp raised its position in Proteostasis Therapeutics by 526.1% during the 2nd quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock worth $752,000 after buying an additional 226,417 shares during the last quarter. Bank of New York Mellon Corp raised its position in Proteostasis Therapeutics by 252.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock worth $174,000 after buying an additional 44,653 shares during the last quarter. Finally, BlackRock Inc. raised its position in Proteostasis Therapeutics by 3,693.4% during 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 during the last quarter. 64.84% of the stock is 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.
Read More: Moving Average (MA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.