PTC Therapeutics Inc. (PTCT) Trading Up 3.2%
PTC Therapeutics Inc. (NASDAQ:PTCT) was up 3.2% during trading on Wednesday . The stock traded as high as $7.24 and last traded at $7.05, with a volume of 321,413 shares. The stock had previously closed at $6.83.
Several equities research analysts recently commented on PTCT shares. Cowen and Company reissued a “hold” rating on shares of PTC Therapeutics in a report on Sunday, April 17th. Credit Suisse Group AG reissued a “buy” rating on shares of PTC Therapeutics in a report on Friday, May 6th. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 target price on shares of PTC Therapeutics in a report on Monday, April 18th. Jefferies Group reissued a “hold” rating and set a $8.00 target price on shares of PTC Therapeutics in a report on Friday, May 6th. Finally, Wedbush reissued a “neutral” rating and set a $11.00 target price on shares of PTC Therapeutics in a report on Wednesday, March 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.05.
The firm’s market cap is $249.30 million. The stock has a 50-day moving average of $7.37 and a 200-day moving average of $13.27.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.26) by $0.04. During the same period in the previous year, the firm earned ($1.15) EPS. The business earned $18.90 million during the quarter, compared to the consensus estimate of $13.74 million. The business’s revenue was up 152.0% compared to the same quarter last year. Equities research analysts forecast that PTC Therapeutics Inc. will post ($4.93) EPS for the current year.
A number of hedge funds have bought and sold shares of PTCT. Jennison Associates LLC boosted its stake in PTC Therapeutics by 5.9% in the fourth quarter. Jennison Associates LLC now owns 1,023,987 shares of the biopharmaceutical company’s stock worth $33,177,000 after buying an additional 57,092 shares during the last quarter. Jennison Associates purchased a new stake in shares of PTC Therapeutics during the third quarter valued at $17,806,000. Pinnacle Associates Ltd. boosted its stake in shares of PTC Therapeutics by 59.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 380,092 shares of the biopharmaceutical company’s stock valued at $12,315,000 after buying an additional 141,322 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of PTC Therapeutics by 82.2% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 204,392 shares of the biopharmaceutical company’s stock valued at $6,622,000 after buying an additional 92,190 shares in the last quarter. Finally, South Dakota Investment Council purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at $2,145,000.
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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