PTC Therapeutics Inc. (PTCT) Trading Down 1.1%
PTC Therapeutics Inc. (NASDAQ:PTCT) shares traded down 1.1% during mid-day trading on Tuesday . The company traded as low as $8.15 and last traded at $8.21, with a volume of 186,710 shares trading hands. The stock had previously closed at $8.30.
A number of brokerages have commented on PTCT. Jefferies Group reissued a “hold” rating and set a $8.00 price objective on shares of PTC Therapeutics in a report on Friday, May 6th. Wedbush reduced their target price on PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, July 26th. Zacks Investment Research lowered PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 7th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of PTC Therapeutics in a report on Friday, May 6th. Finally, JPMorgan Chase & Co. reduced their target price on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $34.72.
The stock has a 50 day moving average of $7.23 and a 200-day moving average of $8.55. The firm’s market cap is $272.32 million.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.13. The company earned $15.40 million during the quarter, compared to analysts’ expectations of $15.24 million. During the same quarter in the previous year, the firm earned ($1.14) EPS. The firm’s revenue for the quarter was up 150.0% compared to the same quarter last year. Equities analysts predict that PTC Therapeutics Inc. will post ($4.95) EPS for the current fiscal year.
A number of 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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