PTC Therapeutics Inc. (NASDAQ:PTCT)’s share price dropped 4.6% during trading on Thursday . The company traded as low as $7.78 and last traded at $7.83, with a volume of 291,799 shares traded. The stock had previously closed at $8.21.

PTCT has been the subject of a number of research reports. Jefferies Group reiterated a “hold” rating and issued a $8.00 price target on shares of PTC Therapeutics in a research note on Friday, May 6th. Credit Suisse Group AG reissued a “buy” rating on shares of PTC Therapeutics in a report on Friday, May 6th. Zacks Investment Research cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 7th. Wedbush reissued a “neutral” rating and issued a $12.00 target price on shares of PTC Therapeutics in a report on Wednesday, July 20th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $48.00 target price on shares of PTC Therapeutics in a report on Tuesday, August 2nd. One investment 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 company presently has a consensus rating of “Hold” and an average target price of $34.72.

The firm’s 50 day moving average price is $7.29 and its 200-day moving average price is $7.96. The firm’s market cap is $265.51 million.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.27) by $0.13. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. During the same period in the prior year, the firm earned ($1.14) EPS. The firm’s revenue was up 150.0% on a year-over-year basis. Equities analysts forecast that PTC Therapeutics Inc. will post ($4.95) EPS for the current year.

An institutional investor recently raised its position in PTC Therapeutics stock. BlackRock Advisors LLC increased its stake in PTC Therapeutics Inc. (NASDAQ:PTCT) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent 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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