The Brokerages gives Consensus Recommendation of “Buy” to Proteostasis Therapeutics Inc. (PTI)

The Brokerages gives Consensus Recommendation of “Buy” to Proteostasis Therapeutics Inc. (PTI)

Proteostasis Therapeutics Inc. (NASDAQ:PTI) has been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $17.00.

Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Leerink Swann restated a “buy” rating and issued a $20.00 price objective on shares of Proteostasis Therapeutics in a report on Friday, August 12th.

Proteostasis Therapeutics (NASDAQ:PTI) opened at 12.87 on Thursday. Proteostasis Therapeutics has a 12-month low of $5.27 and a 12-month high of $20.63. The stock’s market capitalization is $246.89 million. The firm has a 50-day moving average of $14.26 and a 200 day moving average of $13.27.

Proteostasis Therapeutics (NASDAQ:PTI) last posted its earnings results on Monday, August 15th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by $0.06. On average, analysts predict that Proteostasis Therapeutics will post ($2.22) earnings per share for the current fiscal year.

In other Proteostasis Therapeutics news, Director Franklin M. Berger bought 69,230 shares of Proteostasis Therapeutics stock in a transaction on Wednesday, September 14th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $899,990.00. Following the acquisition, the director now directly owns 166,162 shares in the company, valued at $2,160,106. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Enterprise Associates 12 New bought 461,538 shares of Proteostasis Therapeutics stock in a transaction on Wednesday, September 14th. The shares were acquired at an average price of $13.00 per share, for a total transaction of $5,999,994.00. The disclosure for this purchase can be found here. 29.50% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. acquired a new stake in Proteostasis Therapeutics during the second quarter worth about $122,000. Teachers Advisors Inc. acquired a new stake in Proteostasis Therapeutics during the second quarter worth about $126,000. BlackRock Fund Advisors acquired a new stake in Proteostasis Therapeutics during the first quarter worth about $130,000. California State Teachers Retirement System acquired a new stake in Proteostasis Therapeutics during the second quarter worth about $161,000. Finally, Bank of New York Mellon Corp acquired a new stake in Proteostasis Therapeutics during the second quarter worth about $185,000. Institutional investors own 40.02% of the company’s stock.

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