Brokerages forecast that Proteostasis Therapeutics Inc (NASDAQ:PTI) will announce $980,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Proteostasis Therapeutics’ earnings, with estimates ranging from $950,000.00 to $1.00 million. Proteostasis Therapeutics posted sales of $1.62 million in the same quarter last year, which would indicate a negative year over year growth rate of 39.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, March 13th.
On average, analysts expect that Proteostasis Therapeutics will report full-year sales of $3.82 million for the current fiscal year, with estimates ranging from $3.79 million to $3.84 million. For the next financial year, analysts forecast that the firm will post sales of $3.70 million, with estimates ranging from $3.50 million to $3.89 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Proteostasis Therapeutics.
Proteostasis Therapeutics (NASDAQ:PTI) last released its quarterly earnings data on Tuesday, November 6th. The company reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.04). The business had revenue of $1.06 million during the quarter, compared to analyst estimates of $0.83 million. Proteostasis Therapeutics had a negative return on equity of 104.17% and a negative net margin of 1,307.84%.
Several equities research analysts recently issued reports on PTI shares. Zacks Investment Research upgraded shares of Proteostasis Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, November 22nd. BidaskClub downgraded shares of Proteostasis Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. Cantor Fitzgerald began coverage on shares of Proteostasis Therapeutics in a research report on Tuesday, November 6th. They set a “buy” rating and a $21.00 price objective for the company. Piper Jaffray Companies began coverage on shares of Proteostasis Therapeutics in a research report on Monday, October 29th. They set an “overweight” rating and a $14.00 price objective for the company. Finally, ValuEngine upgraded shares of Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $13.86.
PTI stock traded down $0.22 during midday trading on Wednesday, hitting $4.92. 311,430 shares of the stock traded hands, compared to its average volume of 712,548. The firm has a market cap of $186.05 million, a PE ratio of -2.10 and a beta of -3.33. Proteostasis Therapeutics has a 1-year low of $1.71 and a 1-year high of $10.38.
In other Proteostasis Therapeutics news, Director Franklin M. Berger acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average cost of $6.75 per share, for a total transaction of $270,000.00. Following the transaction, the director now directly owns 266,162 shares of the company’s stock, valued at $1,796,593.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.80% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. bought a new stake in Proteostasis Therapeutics in the third quarter valued at $213,000. Jennison Associates LLC increased its position in Proteostasis Therapeutics by 0.7% in the 3rd quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock worth $8,893,000 after buying an additional 26,428 shares during the period. Northern Trust Corp increased its position in Proteostasis Therapeutics by 526.1% in the 2nd quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock worth $752,000 after buying an additional 226,417 shares during the period. BlackRock Inc. increased its position in Proteostasis Therapeutics by 3,693.4% in the 2nd quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock worth $5,043,000 after buying an additional 1,760,063 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Proteostasis Therapeutics by 156.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock worth $131,000 after buying an additional 28,600 shares during the period. Institutional investors and hedge funds own 63.03% of the company’s stock.
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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