Zacks: Brokerages Expect Proteostasis Therapeutics Inc (PTI) to Post -$0.46 EPS

Analysts forecast that Proteostasis Therapeutics Inc (NASDAQ:PTI) will announce ($0.46) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Proteostasis Therapeutics’ earnings. The highest EPS estimate is ($0.41) and the lowest is ($0.51). Proteostasis Therapeutics posted earnings of ($0.51) per share in the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The firm is scheduled to announce its next earnings report on Wednesday, March 13th.

On average, analysts expect that Proteostasis Therapeutics will report full year earnings of ($1.68) per share for the current year, with EPS estimates ranging from ($1.78) to ($1.62). For the next year, analysts forecast that the business will post earnings of ($2.10) per share, with EPS estimates ranging from ($2.37) to ($1.61). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Proteostasis Therapeutics.

Several equities research analysts have commented on PTI shares. ValuEngine upgraded Proteostasis Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 18th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Proteostasis Therapeutics in a research note on Thursday, October 18th. Zacks Investment Research upgraded Proteostasis Therapeutics from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research note on Tuesday, October 23rd. Cantor Fitzgerald started coverage on Proteostasis Therapeutics in a research note on Tuesday, November 6th. They set a “buy” rating and a $21.00 price target for the company. Finally, Royal Bank of Canada upgraded Proteostasis Therapeutics from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Proteostasis Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $12.80.

NASDAQ:PTI traded up $0.70 on Monday, hitting $3.91. 8,419,330 shares of the stock were exchanged, compared to its average volume of 1,084,999. The firm has a market capitalization of $117.81 million, a PE ratio of -1.67 and a beta of -0.98. Proteostasis Therapeutics has a fifty-two week low of $1.71 and a fifty-two week high of $10.38.

In other news, insider Meenu Chhabra sold 16,478 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was 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 owns 97,093 shares of the company’s stock, valued at $290,308.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Proteostasis Therapeutics by 252.8% in the second quarter. Bank of New York Mellon Corp now owns 62,319 shares of the company’s stock valued at $174,000 after purchasing an additional 44,653 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Proteostasis Therapeutics by 156.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the company’s stock valued at $131,000 after purchasing an additional 28,600 shares during the last quarter. BlackRock Inc. boosted its holdings in Proteostasis Therapeutics by 3,693.4% in the second quarter. BlackRock Inc. now owns 1,807,717 shares of the company’s stock valued at $5,043,000 after purchasing an additional 1,760,063 shares during the last quarter. Northern Trust Corp boosted its holdings in Proteostasis Therapeutics by 526.1% in the second quarter. Northern Trust Corp now owns 269,451 shares of the company’s stock valued at $752,000 after purchasing an additional 226,417 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Proteostasis Therapeutics by 0.7% in the third quarter. Jennison Associates LLC now owns 3,690,138 shares of the company’s stock valued at $8,893,000 after purchasing an additional 26,428 shares during the last quarter. 62.75% of the stock is owned by institutional investors.

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.

See Also: Earnings Per Share (EPS)

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Earnings History and Estimates for Proteostasis Therapeutics (NASDAQ:PTI)

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