PTC Therapeutics Inc. (NASDAQ:PTCT) shares were down 3% during mid-day trading on Tuesday . The stock traded as low as $6.88 and last traded at $6.89, with a volume of 285,278 shares traded. The stock had previously closed at $7.10.

Several research analysts have issued reports on PTCT shares. Wedbush reaffirmed a “neutral” rating and set a $11.00 price objective on shares of PTC Therapeutics in a report on Wednesday, March 23rd. Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Sunday, April 17th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 price objective on shares of PTC Therapeutics in a report on Friday, May 6th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $39.00 target price on shares of PTC Therapeutics in a research report on Sunday, April 17th. Finally, Zacks Investment Research cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 7th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $36.05.

The firm has a 50-day moving average price of $7.25 and a 200 day moving average price of $11.82. The company’s market capitalization is $232.68 million.

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

Other hedge funds and institutional investors have made changes to their positions in the company. Jennison Associates LLC raised 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. Marshall Wace LLP raised its position in shares of PTC Therapeutics by 50.6% in the fourth quarter. Marshall Wace LLP now owns 44,410 shares of the biopharmaceutical company’s stock worth $1,439,000 after buying an additional 14,926 shares during the period. Turner Investments L.P. acquired a new position in shares of PTC Therapeutics during the fourth quarter worth about $1,532,000. Pinnacle Associates Ltd. raised 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. Finally, Gratus Capital LLC raised its position in shares of PTC Therapeutics by 9.7% in the fourth quarter. Gratus Capital LLC now owns 53,350 shares of the biopharmaceutical company’s stock worth $1,729,000 after buying an additional 4,700 shares during the period.

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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