Several other equities research analysts have also recently weighed in on the company. Piper Jaffray Companies lowered their target price on Proteostasis Therapeutics to $5.00 and set an overweight rating for the company in a report on Thursday, May 9th. Cantor Fitzgerald restated a buy rating and set a $14.00 price objective on shares of Proteostasis Therapeutics in a research note on Monday, March 25th. Finally, Zacks Investment Research upgraded Proteostasis Therapeutics from a hold rating to a buy rating and set a $4.50 price objective for the company in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $9.63.
Proteostasis Therapeutics stock traded down $0.03 during mid-day trading on Friday, hitting $0.99. The company’s stock had a trading volume of 925,229 shares, compared to its average volume of 1,613,995. The company has a 50 day simple moving average of $1.04. The company has a market capitalization of $53.14 million, a PE ratio of -0.62 and a beta of -0.65. The company has a current ratio of 11.30, a quick ratio of 11.29 and a debt-to-equity ratio of 0.13. Proteostasis Therapeutics has a one year low of $0.91 and a one year high of $10.38.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.11. Proteostasis Therapeutics had a negative return on equity of 84.01% and a negative net margin of 1,307.84%. The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.80 million. Analysts expect that Proteostasis Therapeutics will post -1.55 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in Proteostasis Therapeutics during the fourth quarter worth approximately $41,000. Great Point Partners LLC purchased a new position in Proteostasis Therapeutics during the fourth quarter worth approximately $9,867,000. Hikari Power Ltd purchased a new position in Proteostasis Therapeutics during the first quarter worth approximately $63,000. Bank of Montreal Can lifted its position in shares of Proteostasis Therapeutics by 8,649.2% in the fourth quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock valued at $51,000 after acquiring an additional 15,309 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Proteostasis Therapeutics by 331.6% in the fourth quarter. Bank of New York Mellon Corp now owns 268,990 shares of the company’s stock valued at $871,000 after acquiring an additional 206,672 shares in the last quarter. Institutional investors own 60.15% of the company’s stock.
About Proteostasis Therapeutics
Proteostasis Therapeutics, Inc, a clinical stage biopharmaceutical company, discovers and develops novel therapeutics to treat cystic fibrosis (CF) and other diseases caused by an imbalance in the proteostasis network. The company's lead product candidates include cystic fibrosis transmembrane conductance regulator (CFTR) modulators comprising PTI-428, an amplifier, which has completed Phase II study; and PTI-801, a third generation corrector molecule and PTI-808, a potentiator molecule, which has completed Phase I study.
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