PTC Therapeutics Inc. (NASDAQ:PTCT) shares traded up 1.6% during mid-day trading on Friday . The stock traded as high as $7.12 and last traded at $7.02, with a volume of 285,866 shares. The stock had previously closed at $6.91.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. Credit Suisse Group AG restated a “buy” rating on shares of PTC Therapeutics in a research note on Friday, May 6th. Jefferies Group restated a “hold” rating and issued a $8.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 6th. Royal Bank Of Canada restated a “sector perform” rating and issued a $9.00 price objective on shares of PTC Therapeutics in a research note on Monday, April 18th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating and issued a $39.00 price objective on shares of PTC Therapeutics in a research note on Sunday, April 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.05.

The stock’s market cap is $242.52 million. The stock has a 50 day moving average price of $7.29 and a 200 day moving average price of $12.49.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.04. During the same period last year, the company posted ($1.15) earnings per share. The business had revenue of $18.90 million for the quarter, compared to analysts’ expectations of $13.74 million. The business’s quarterly revenue was up 152.0% on a year-over-year basis. On average, equities research analysts predict that PTC Therapeutics Inc. will post ($4.95) EPS for the current fiscal year.

Several institutional investors have modified their holdings of PTCT. Jennison Associates LLC increased its position in shares of 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 period. Jennison Associates acquired a new position in shares of PTC Therapeutics during the third quarter worth about $17,806,000. Pinnacle Associates Ltd. increased its position 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 worth $12,315,000 after buying an additional 141,322 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position 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 worth $6,622,000 after buying an additional 92,190 shares during the period. Finally, South Dakota Investment Council acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $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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