PTC Therapeutics’ (PTCT) Hold Rating Reaffirmed at Barclays

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Barclays reaffirmed their hold rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research note issued to investors on Monday, AnalystRatings.com reports. The firm currently has a $43.00 price target on the biopharmaceutical company’s stock.

A number of other brokerages also recently issued reports on PTCT. Bank of America raised shares of PTC Therapeutics from a neutral rating to a buy rating and upped their price objective for the stock from $43.00 to $49.00 in a research report on Monday, May 13th. Citigroup set a $59.00 price objective on shares of PTC Therapeutics and gave the stock a buy rating in a research report on Friday, May 3rd. ValuEngine downgraded shares of PTC Therapeutics from a strong-buy rating to a buy rating in a research report on Monday, June 17th. Zacks Investment Research downgraded shares of PTC Therapeutics from a buy rating to a hold rating in a research report on Tuesday, July 16th. Finally, Cowen reaffirmed a hold rating on shares of PTC Therapeutics in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $50.89.

PTCT opened at $44.34 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.73 and a quick ratio of 2.63. PTC Therapeutics has a fifty-two week low of $27.53 and a fifty-two week high of $48.99. The firm has a market capitalization of $2.74 billion, a PE ratio of -24.10 and a beta of 1.76. The company’s 50-day moving average is $44.87 and its 200 day moving average is $39.01.

PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.66) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.46) by ($0.20). PTC Therapeutics had a negative return on equity of 35.79% and a negative net margin of 76.41%. The business had revenue of $85.50 million during the quarter, compared to analyst estimates of $78.65 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The company’s revenue was up 24.5% on a year-over-year basis. As a group, analysts expect that PTC Therapeutics will post -2.71 EPS for the current year.

In other news, CAO Christine Marie Utter sold 988 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $45.00, for a total transaction of $44,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,173 shares of the company’s stock, valued at approximately $232,785. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 15,312 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $44.74, for a total transaction of $685,058.88. Following the transaction, the vice president now directly owns 32,805 shares of the company’s stock, valued at $1,467,695.70. The disclosure for this sale can be found here. Insiders sold a total of 295,091 shares of company stock valued at $13,251,718 over the last ninety days. 7.00% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. grew its position in shares of PTC Therapeutics by 2.9% during the 1st quarter. First Republic Investment Management Inc. now owns 9,834 shares of the biopharmaceutical company’s stock valued at $370,000 after acquiring an additional 276 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PTC Therapeutics by 14.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,122 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 390 shares in the last quarter. Strs Ohio lifted its stake in shares of PTC Therapeutics by 7.3% during the 2nd quarter. Strs Ohio now owns 14,700 shares of the biopharmaceutical company’s stock valued at $661,000 after buying an additional 1,000 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at approximately $49,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of PTC Therapeutics during the 2nd quarter valued at approximately $54,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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