PTC Therapeutics Inc. (PTCT) Stock Price Down 4.6%
PTC Therapeutics Inc. (NASDAQ:PTCT) fell 4.6% during mid-day trading on Thursday . The stock traded as low as $7.78 and last traded at $7.83, with a volume of 291,799 shares trading hands. The stock had previously closed at $8.21.
Several research firms recently issued reports on PTCT. Credit Suisse Group AG lowered PTC Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 26th. Wedbush dropped their price objective on PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, July 26th. Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Citigroup Inc. lifted their price objective on PTC Therapeutics from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research note 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 issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.72.
The firm’s market cap is $269.60 million. The stock’s 50-day moving average price is $7.34 and its 200 day moving average price is $7.96.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.27) by $0.13. The business earned $15.40 million during the quarter, compared to analysts’ expectations of $15.24 million. During the same quarter in the previous year, the company posted ($1.14) EPS. The company’s quarterly revenue was up 150.0% on a year-over-year basis. Analysts forecast that PTC Therapeutics Inc. will post ($4.95) earnings per share for the current year.
A hedge fund recently raised its stake in PTC Therapeutics stock. BlackRock Advisors LLC raised its position in shares of PTC Therapeutics Inc. (NASDAQ:PTCT) by 2.3% during the fourth quarter, according to its most recent disclosure 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 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.
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