Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Proteostasis Therapeutics Inc (PTI) today and set a price target of $14. The company’s shares closed on Friday at $4.07.
Piros commented:
“: We reiterate our OW rating and are lowering out 12-month PT to $14 from $21 on Proteostasis (due to lowering the probability of success on the program from 55% to 40%). This morning, the company announced and hosted a conference call to provide results from the low- and high-dose data from the triplet (PTI-801/808/428) trial. Additionally, the company announced data from the combination studies of on top of SYMDEKO. We feel the results were inferior to our projections, but believe data by year-end 2019 could make the case whether PTI’s internal drugs could be a competitive entrant in cystic fibrosis (CF).”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.1% and a 44.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Strongbridge Biopharma Plc.
Proteostasis Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $14.
See today’s analyst top recommended stocks >>
Based on Proteostasis Therapeutics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.9 million. In comparison, last year the company had a GAAP net loss of $13.42 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Proteostasis Therapeutics, Inc. is a clinical stage biopharmaceutical company, which engages in the discovery and development of novel therapeutics to treat cystic fibrosis (CF), and other diseases caused by an imbalance in the proteostasis network.
