PTC Therapeutics, Inc. (PTCT) Receives Average Rating of “Hold” from Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given a consensus rating of “Hold” by the eleven analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $26.60.

Several brokerages have recently commented on PTCT. Barclays reaffirmed an “equal weight” rating and set a $24.00 price objective (up from $18.00) on shares of PTC Therapeutics in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Saturday, March 10th. Credit Suisse Group reaffirmed a “buy” rating and set a $28.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, January 30th. William Blair reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, March 7th. Finally, Royal Bank of Canada began coverage on shares of PTC Therapeutics in a research note on Monday, January 29th. They set a “sector perform” rating for the company.

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In related news, CEO Stuart Walter Peltz sold 2,230 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the sale, the chief executive officer now owns 26,646 shares in the company, valued at $480,427.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,719 shares of company stock worth $48,848 in the last 90 days. 8.10% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of PTCT. Macquarie Group Ltd. bought a new stake in PTC Therapeutics in the 3rd quarter valued at $102,000. Quantbot Technologies LP purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth $150,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of PTC Therapeutics in the 3rd quarter worth $229,000. Public Employees Retirement System of Ohio grew its stake in shares of PTC Therapeutics by 49.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,582 shares of the biopharmaceutical company’s stock worth $232,000 after buying an additional 3,835 shares in the last quarter. Finally, MANA Advisors LLC purchased a new position in shares of PTC Therapeutics in the 4th quarter worth $221,000. Institutional investors own 91.81% of the company’s stock.

PTCT stock traded up $0.14 during midday trading on Wednesday, reaching $32.13. 188,964 shares of the company’s stock traded hands, compared to its average volume of 1,003,172. The company has a current ratio of 3.04, a quick ratio of 2.90 and a debt-to-equity ratio of 0.93. PTC Therapeutics has a twelve month low of $8.30 and a twelve month high of $33.22. The stock has a market capitalization of $1,327.25, a price-to-earnings ratio of -15.38 and a beta of 1.71.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, March 6th. The biopharmaceutical company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.17. The business had revenue of $78.00 million during the quarter, compared to analyst estimates of $78.59 million. PTC Therapeutics had a negative net margin of 40.64% and a negative return on equity of 50.75%. The company’s revenue was up 209.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.78) earnings per share. equities analysts expect that PTC Therapeutics will post -0.69 earnings per share for the current year.

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PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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