Wall Street brokerages expect Proteostasis Therapeutics Inc (NASDAQ:PTI) to post $980,000.00 in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Proteostasis Therapeutics’ earnings, with the highest sales estimate coming in at $1.00 million and the lowest estimate coming in at $950,000.00. Proteostasis Therapeutics reported sales of $1.62 million in the same quarter last year, which indicates a negative year-over-year growth rate of 39.5%. The business is expected to report its next quarterly earnings report on Wednesday, March 13th.
According to Zacks, analysts expect that Proteostasis Therapeutics will report full-year sales of $3.82 million for the current year, with estimates ranging from $3.79 million to $3.84 million. For the next fiscal year, analysts anticipate that the business will report sales of $3.70 million, with estimates ranging from $3.50 million to $3.89 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Proteostasis Therapeutics.
Proteostasis Therapeutics (NASDAQ:PTI) last issued its quarterly earnings results on Tuesday, November 6th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.04). The firm had revenue of $1.06 million for the quarter, compared to analysts’ expectations of $0.83 million. Proteostasis Therapeutics had a negative return on equity of 104.17% and a negative net margin of 1,307.84%.
PTI has been the subject of a number of recent analyst reports. Royal Bank of Canada upgraded shares of Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 18th. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Proteostasis Therapeutics in a report on Thursday, October 18th. ValuEngine upgraded shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Tuesday, October 23rd. Finally, Piper Jaffray Companies initiated coverage on shares of Proteostasis Therapeutics in a report on Monday, October 29th. They issued an “overweight” rating and a $14.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.80.
In related news, insider Meenu Chhabra sold 16,478 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $2.99, for a total value of $49,269.22. Following the completion of the sale, the insider now directly owns 97,093 shares in the company, valued at $290,308.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTI. Meeder Asset Management Inc. purchased a new stake in Proteostasis Therapeutics during the fourth quarter worth approximately $37,000. Bank of Montreal Can grew its stake in Proteostasis Therapeutics by 8,649.2% during the fourth quarter. Bank of Montreal Can now owns 15,486 shares of the company’s stock worth $51,000 after buying an additional 15,309 shares during the period. JGP Global Gestao de Recursos Ltda. purchased a new stake in Proteostasis Therapeutics during the fourth quarter worth approximately $64,000. New York State Common Retirement Fund grew its stake in Proteostasis Therapeutics by 6,175.0% during the fourth quarter. New York State Common Retirement Fund now owns 25,100 shares of the company’s stock worth $81,000 after buying an additional 24,700 shares during the period. Finally, Rhumbline Advisers grew its stake in Proteostasis Therapeutics by 70.3% during the fourth quarter. Rhumbline Advisers now owns 36,418 shares of the company’s stock worth $118,000 after buying an additional 15,030 shares during the period. Institutional investors own 63.21% of the company’s stock.
Shares of NASDAQ PTI traded up $0.12 during midday trading on Wednesday, reaching $3.21. 688,224 shares of the stock were exchanged, compared to its average volume of 817,983. Proteostasis Therapeutics has a 52-week low of $1.71 and a 52-week high of $10.38.
Proteostasis Therapeutics Company Profile
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.
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