H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Proteostasis Therapeutics Inc (NASDAQ: PTI) today and set a price target of $15. The company’s shares closed yesterday at $4.90.
Fein said:
“We remain in the dark as to whether this data was never effectively collected or if it was collected, why it was not reported. We believe that this data could significantly support PTI’s argument of efficacy in both trials with both agents, PTI-428 and PTI-801. With respect to the 801 study, it is important to note that the 400mg dose cohort that had the greatest response did have the lowest baseline SwCl level (71.3 mmol/L) nearly 10 mmol/L lower than the other three cohorts. Perhaps a threshold level of SwCl can be achieved after which small increases in CFTR modulation are sensitively detected in this assay but are not sufficient to generate an increase in lung function.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 8.3% and a 53.1% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.
Proteostasis Therapeutics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $20.
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Based on Proteostasis Therapeutics Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $11.03 million. In comparison, last year the company had a GAAP net loss of $15.1 million.
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Proteostasis Therapeutics, Inc. engages in the research, development, and market of pharmaceutical products. Its medicines intend to treat cystic fibrosis, protein conformational and neurodegenerative diseases.
