Proteostasis Therapeutics (NASDAQ:PTI) Rating Lowered to Sell at Zacks Investment Research

Proteostasis Therapeutics (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Saturday, November 18th.

According to Zacks, “Proteostasis Therapeutics, Inc. is a biopharmaceutical company which focuses on the discovery and development of novel therapeutics to treat diseases caused by an imbalance in the proteostasis network primarily in the United States. Proteostasis Therapeutics, Inc. is based in Cambridge, Massachusetts. “

Separately, Leerink Swann restated an “outperform” rating and set a $9.00 price objective (down from $17.00) on shares of Proteostasis Therapeutics in a research report on Wednesday, August 16th.

Shares of Proteostasis Therapeutics (NASDAQ:PTI) traded down $0.04 during trading on Friday, hitting $2.48. The stock had a trading volume of 79,965 shares, compared to its average volume of 163,447. Proteostasis Therapeutics has a fifty-two week low of $1.41 and a fifty-two week high of $16.67.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its earnings results on Tuesday, November 14th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.16. Proteostasis Therapeutics had a negative return on equity of 93.15% and a negative net margin of 712.49%. The company had revenue of $1.55 million for the quarter, compared to the consensus estimate of $1.38 million. sell-side analysts predict that Proteostasis Therapeutics will post -2.47 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Susquehanna International Group LLP bought a new stake in Proteostasis Therapeutics during the 2nd quarter valued at $254,000. Jennison Associates LLC boosted its position in Proteostasis Therapeutics by 6.2% during the 2nd quarter. Jennison Associates LLC now owns 2,075,439 shares of the company’s stock valued at $9,713,000 after acquiring an additional 120,575 shares in the last quarter. FMR LLC boosted its position in Proteostasis Therapeutics by 2.3% during the 2nd quarter. FMR LLC now owns 2,944,915 shares of the company’s stock valued at $13,782,000 after acquiring an additional 66,111 shares in the last quarter. Bain Capital Public Equity Management LLC purchased a new stake in shares of Proteostasis Therapeutics during the 2nd quarter valued at $1,233,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Proteostasis Therapeutics by 17.3% during the 1st quarter. Bank of New York Mellon Corp now owns 34,964 shares of the company’s stock valued at $273,000 after purchasing an additional 5,153 shares during the last quarter. 68.08% of the stock is currently owned by institutional investors.

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Proteostasis Therapeutics Company Profile

Proteostasis Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in discovery and development of therapeutics that treat diseases caused by an imbalance in the proteostasis network, a set of pathways that control protein biosynthesis, folding, trafficking and clearance. It has developed the Disease Relevant Translation (DRT) technology platform, a drug screening approach for identifying highly translatable therapeutics based on predictive and functionally pertinent phenotypic assays and disease relevant models.

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