Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Proteostasis Therapeutics Inc (PTI) today and set a price target of $21. The company’s shares opened today at $4.15.
Piros wrote:
“: We reiterate our OW rating and 12-month PT of $21 on PTI shares. We are providing a comprehensive picture of Proteostasis’ upcoming data readouts (all due in 1Q19) and interpretations of potential results. During this month, Proteostasis could report high-dose data from the doublet (PTI-801/808 study) and low- and high-dose data from the triplet (PTI-801/808/428) trial. In addition, Proteostasis could share data from the combination studies of PTI-428 and PTI-801, each with SYMDEKO. With recent results from Vertex’ (OW, covered by A. Young) two triplet therapies, a higher bar has been set for clinical success in cystic fibrosis (CF). A detailed deck can be found on pp. 2-22.”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.7% and a 42.9% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Strongbridge Biopharma Plc.
Currently, the analyst consensus on Proteostasis Therapeutics Inc is a Strong Buy with an average price target of $16.67.
See today’s analyst top recommended stocks >>
The company has a one-year high of $10.38 and a one-year low of $1.71. Currently, Proteostasis Therapeutics Inc has an average volume of 1.15M.
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. engages in the research, development, and market of pharmaceutical products. Its medicines intend to treat cystic fibrosis, protein conformational and neurodegenerative diseases.
