PTC Therapeutics Inc. (PTCT) Stock Price Up 3.5%
PTC Therapeutics Inc. (NASDAQ:PTCT) shares rose 3.5% on Monday . The company traded as high as $6.33 and last traded at $6.18, with a volume of 706,947 shares changing hands. The stock had previously closed at $5.97.
PTCT has been the subject of a number of research analyst reports. Wedbush dropped their price target on PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, July 26th. Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Sunday, April 17th. Jefferies Group reaffirmed a “hold” rating and set a $8.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 6th. Credit Suisse Group AG lowered PTC Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 26th. Finally, Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. PTC Therapeutics presently has an average rating of “Hold” and a consensus price target of $35.97.
The stock’s market cap is $206.91 million. The firm’s 50-day moving average is $6.86 and its 200-day moving average is $10.48.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($1.22) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.26) by $0.04. The firm earned $18.90 million during the quarter, compared to the consensus estimate of $13.74 million. The firm’s quarterly revenue was up 152.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.15) EPS. On average, equities research analysts anticipate that PTC Therapeutics Inc. will post ($4.96) earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of PTCT. ProShare Advisors LLC increased its stake in PTC Therapeutics by 10.6% in the fourth quarter. ProShare Advisors LLC now owns 32,490 shares of the biopharmaceutical company’s stock worth $1,053,000 after buying an additional 3,122 shares in the last quarter. Rhumbline Advisers increased its stake in PTC Therapeutics by 8.1% in the fourth quarter. Rhumbline Advisers now owns 33,247 shares of the biopharmaceutical company’s stock worth $1,077,000 after buying an additional 2,485 shares in the last quarter. Marshall Wace LLP increased its stake 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 in the last quarter. Turner Investments L.P. purchased a new stake in PTC Therapeutics during the fourth quarter worth approximately $1,532,000. Finally, California State Teachers Retirement System increased its stake in PTC Therapeutics by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 62,719 shares of the biopharmaceutical company’s stock worth $2,032,000 after buying an additional 1,100 shares in the last quarter.
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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