PTC Therapeutics Inc. (PTCT) Stock Price Up 2.2%
Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) rose 2.2% on Monday . The company traded as high as $8.49 and last traded at $8.21, with a volume of 364,968 shares trading hands. The stock had previously closed at $8.03.
PTCT has been the topic of a number of analyst reports. Credit Suisse Group AG reiterated a “buy” rating on shares of PTC Therapeutics in a research report on Friday, May 6th. Jefferies Group restated a “hold” rating and set a $8.00 target price on shares of PTC Therapeutics in a report on Friday, May 6th. Wedbush restated a “neutral” rating and set a $12.00 target price on shares of PTC Therapeutics in a report on Wednesday, July 20th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 7th. Finally, Citigroup Inc. restated a “buy” rating and set a $48.00 target price on shares of PTC Therapeutics in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.72.
The firm has a 50-day moving average of $7.19 and a 200 day moving average of $8.55. The firm’s market capitalization is $293.45 million.
PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.27) by $0.13. During the same quarter in the previous year, the company earned ($1.14) earnings per share. The company earned $15.40 million during the quarter, compared to the consensus estimate of $15.24 million. The business’s revenue was up 150.0% on a year-over-year basis. Equities analysts predict that PTC Therapeutics Inc. will post ($4.95) earnings per share for the current fiscal year.
Other hedge funds recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of PTC Therapeutics by 8.1% in the fourth quarter. Rhumbline Advisers now owns 33,247 shares of the biopharmaceutical company’s stock valued at $1,077,000 after buying an additional 2,485 shares during the last quarter. Marshall Wace LLP boosted its stake 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 valued at $1,439,000 after buying an additional 14,926 shares during the last quarter. BlackRock Advisors LLC boosted its stake in shares of PTC Therapeutics by 2.3% in the fourth quarter. BlackRock Advisors LLC now owns 505,966 shares of the biopharmaceutical company’s stock valued at $16,393,000 after buying an additional 11,568 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake 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 valued at $33,177,000 after buying an additional 57,092 shares during 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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