In a report released today, Andrew Fein from H.C. Wainwright maintained a Buy rating on Proteostasis Therapeutics Inc (NASDAQ: PTI), with a price target of $15. The company’s shares closed yesterday at $2.84.
Fein noted:
“Valuation and risks. Our price target of $15 is based on a probability-adjusted $12 from PTI-428 in F508del CF (12% discount rate, 2% growth rate, in line with the expected discount and growth parameters of a development-stage company) + $3 in cash. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) a smaller than anticipated commercial opportunity due to market size, competition, and/or pricing. Proteostasis Therapeutics, Inc.”
According to TipRanks.com, Fein is a 4-star analyst with an average return of 6.0% and a 48.9% success rate. Fein covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Cyclacel Pharmaceuticals.
Currently, the analyst consensus on Proteostasis Therapeutics Inc is a Moderate Buy with an average price target of $10.
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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 $16.96 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.
