PTC Therapeutics Inc. (NASDAQ:PTCT) dropped 7.9% on Monday . The company traded as low as $6.27 and last traded at $6.61, with a volume of 1,600,123 shares changing hands. The stock had previously closed at $7.18.

PTCT has been the topic of several recent analyst reports. Credit Suisse Group AG reissued a “buy” rating on shares of PTC Therapeutics in a report on Friday, May 6th. Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $39.00 target price on shares of PTC Therapeutics in a report on Sunday, April 17th. Cowen and Company reissued a “hold” rating on shares of PTC Therapeutics in a report on Sunday, April 17th. Jefferies Group reissued a “hold” rating and issued a $8.00 target price on shares of PTC Therapeutics in a report on Friday, May 6th. Finally, Wedbush reissued a “neutral” rating and issued a $12.00 target price on shares of PTC Therapeutics in a report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $36.13.

The company’s 50 day moving average is $7.16 and its 200 day moving average is $11.55. The firm’s market capitalization is $229.29 million.

PTC Therapeutics (NASDAQ:PTCT) last released 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. The company earned $18.90 million during the quarter, compared to analysts’ expectations of $13.74 million. During the same quarter in the previous year, the firm earned ($1.15) earnings per share. The firm’s revenue was up 152.0% compared to the same quarter last year. On average, equities analysts forecast that PTC Therapeutics Inc. will post ($4.93) earnings per share for the current fiscal year.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP boosted its position in PTC Therapeutics by 49.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,872,220 shares of the biopharmaceutical company’s stock worth $60,660,000 after buying an additional 621,079 shares during the last quarter. Jennison Associates LLC boosted its position 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. Marshall Wace LLP boosted its position in 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 last quarter. Turner Investments L.P. bought a new position in PTC Therapeutics during the fourth quarter worth $1,532,000. Finally, South Dakota Investment Council bought a new position in PTC Therapeutics during the fourth quarter worth $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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