Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) traded up 1.9% during trading on Wednesday after Credit Suisse Group AG raised their price target on the stock to $15.00. Credit Suisse Group AG currently has a neutral rating on the stock. PTC Therapeutics traded as high as $13.70 and last traded at $13.53, with a volume of 290,587 shares. The stock had previously closed at $13.28.
Other analysts have also issued research reports about the company. Wedbush reduced their target price on PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, July 26th. Citigroup Inc. lifted their target price on PTC Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. JPMorgan Chase & Co. reduced their target price on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Finally, Cowen and Company restated a “hold” rating on shares of PTC Therapeutics in a research note on Sunday, August 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $33.82.
A number of large investors have recently bought and sold shares of the stock. Barclays PLC raised its stake in PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 238 shares during the last quarter. ProShare Advisors LLC raised its stake in PTC Therapeutics by 0.8% in the second quarter. ProShare Advisors LLC now owns 29,573 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 243 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 436 shares during the last quarter. Teachers Advisors Inc. raised its stake in PTC Therapeutics by 4.9% in the second quarter. Teachers Advisors Inc. now owns 52,338 shares of the biopharmaceutical company’s stock valued at $367,000 after buying an additional 2,434 shares during the last quarter. Finally, Swiss National Bank raised its stake in PTC Therapeutics by 6.1% in the second quarter. Swiss National Bank now owns 50,065 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 2,900 shares during the last quarter. 83.32% of the stock is currently owned by institutional investors.
The company’s 50 day moving average is $10.50 and its 200-day moving average is $8.05. The firm’s market cap is $462.51 million.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The company earned $15.40 million during the quarter, compared to analysts’ expectations of $15.24 million. During the same quarter last year, the company posted ($1.14) EPS. The firm’s revenue was up 150.0% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Therapeutics Inc. will post ($4.95) EPS for the current year.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.
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