Wedbush reaffirmed their neutral rating on shares of PTC Therapeutics Inc. (NASDAQ:PTCT) in a research note released on Tuesday. They currently have a $10.00 price target on the biopharmaceutical company’s stock.
PTCT has been the topic of several other research reports. Jefferies Group reissued a hold rating and issued a $7.00 target price on shares of PTC Therapeutics in a report on Thursday, September 22nd. Credit Suisse Group AG set a $6.00 target price on PTC Therapeutics and gave the company a hold rating 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. Citigroup Inc. reissued a buy rating and issued a $48.00 target price on shares of PTC Therapeutics in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on PTC Therapeutics from $18.00 to $17.00 and set a neutral rating on the stock in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have given 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 target price of $31.38.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded down 32.0754% during mid-day trading on Tuesday, reaching $9.0136. The company’s stock had a trading volume of 3,914,955 shares. PTC Therapeutics has a 52 week low of $5.27 and a 52 week high of $35.74. The stock’s market capitalization is $307.21 million. The company’s 50-day moving average is $10.65 and its 200-day moving average is $8.10.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.27) by $0.13. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. PTC Therapeutics had a negative return on equity of 80.50% and a negative net margin of 305.62%. PTC Therapeutics’s revenue for the quarter was up 150.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.14) earnings per share. Equities analysts predict that PTC Therapeutics will post ($4.95) EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of PTC Therapeutics by 48.4% in the first quarter. Wellington Management Group LLP now owns 4,699,733 shares of the biopharmaceutical company’s stock worth $30,267,000 after buying an additional 1,532,712 shares during the last quarter. Spark Investment Management LLC increased its stake in PTC Therapeutics by 1,466.3% in the first quarter. Spark Investment Management LLC now owns 274,100 shares of the biopharmaceutical company’s stock worth $1,765,000 after buying an additional 256,600 shares during the last quarter. Bellevue Group AG bought a new stake in PTC Therapeutics during the first quarter worth about $225,000. BlackRock Group LTD increased its stake in PTC Therapeutics by 1,020.2% in the first quarter. BlackRock Group LTD now owns 213,768 shares of the biopharmaceutical company’s stock worth $1,377,000 after buying an additional 194,685 shares during the last quarter. Finally, BlackRock Inc. increased its stake in PTC Therapeutics by 4,748.6% in the first quarter. BlackRock Inc. now owns 48,825 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 47,818 shares during the last quarter. Hedge funds and other institutional investors own 83.67% of the company’s stock.
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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