PTI stock closed up 5% on December 4, 2019, on positive Cantor Fitzgerald comments.
Analyst Kristen Kluska of Cantor Fitzgerald assumed coverage of Proteostasis Therapeutics (PTI) stock with an Overweight rating and a price target of $8. The stock is now set up for success, Kluska tells investors in a research note.
PTI stock closed strong in after-hours trading on December 4, 2019.
Back on November 6, 2019, Piper Jaffray analyst Edward Tenthoff noted that Proteostasis said it has completed enrollment of the Phase 2 study of 60 f508del cystic fibrosis patients ahead of schedule and is now guiding to top-line data by year-end 2019, which is ahead of the prior expectation of the first quarter of 2020. If it generates positive data for the triple combo of amplifier PTI-428 with CFTR corrector PTI-801 and potentiator PTI-808, Proteostasis could initiate a Phase 3 trial next year, said Tenthoff, who has an Overweight rating and $4 price target on PTI stock.