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

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Proteostasis Therapeutics (NASDAQ:PTI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks.com reports.

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. “

Several other equities research analysts have also recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Inovio Pharmaceuticals in a report on Monday, March 25th. They issued an “overweight” rating and a $3.62 target price on the stock. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a report on Monday, July 8th. Finally, Piper Jaffray Companies raised their target price on shares of Beigene to $180.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Proteostasis Therapeutics presently has a consensus rating of “Hold” and an average target price of $9.63.

Shares of PTI stock opened at $1.00 on Thursday. Proteostasis Therapeutics has a 12-month low of $0.91 and a 12-month high of $10.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.29 and a current ratio of 11.30. The stock has a 50 day moving average of $1.00.

Proteostasis Therapeutics (NASDAQ:PTI) last issued its earnings results on Wednesday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.11. The company had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $0.80 million. As a group, equities analysts predict that Proteostasis Therapeutics will post -1.45 EPS for the current year.

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new stake in Proteostasis Therapeutics in the fourth quarter worth approximately $41,000. Virtu Financial LLC purchased a new position in shares of Proteostasis Therapeutics during the 1st quarter worth $25,000. American International Group Inc. boosted its stake in shares of Proteostasis Therapeutics by 32.9% during the 4th quarter. American International Group Inc. now owns 22,574 shares of the company’s stock worth $73,000 after acquiring an additional 5,593 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Proteostasis Therapeutics by 6,175.0% during the 4th quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after acquiring an additional 24,700 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Proteostasis Therapeutics by 113.3% during the 4th quarter. Barclays PLC now owns 34,398 shares of the company’s stock worth $112,000 after acquiring an additional 18,271 shares during 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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