PTC Therapeutics Inc. (PTCT) Stock Price Up 3.5%
Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) rose 3.5% on Wednesday . The stock traded as high as $7.97 and last traded at $7.96, with a volume of 336,363 shares changing hands. The stock had previously closed at $7.69.
PTCT has been the subject of several recent analyst reports. Jefferies Group restated a “hold” rating and set a $8.00 target price on shares of PTC Therapeutics in a research note on Friday, May 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of PTC Therapeutics in a research note on Friday, May 6th. Zacks Investment Research downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. Wedbush reiterated a “neutral” rating and issued a $12.00 price target on shares of PTC Therapeutics in a research note on Wednesday, July 20th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $48.00 price target on shares of PTC Therapeutics in a research note on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. PTC Therapeutics presently has a consensus rating of “Hold” and an average target price of $34.72.
The company’s market capitalization is $274.03 million. The company’s 50-day moving average price is $7.27 and its 200 day moving average price is $7.96.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.13. The business earned $15.40 million during the quarter, compared to analyst estimates of $15.24 million. The firm’s revenue for the quarter was up 150.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.14) EPS. Analysts predict that PTC Therapeutics Inc. will post ($4.95) EPS for the current year.
A hedge fund recently raised its stake in PTC Therapeutics stock. BlackRock Advisors LLC raised its stake in shares of PTC Therapeutics Inc. (NASDAQ:PTCT) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 505,966 shares of the biopharmaceutical company’s stock after buying an additional 11,568 shares during the period. BlackRock Advisors LLC owned about 1.49% of PTC Therapeutics worth $16,393,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.