PTC Therapeutics Inc. (NASDAQ:PTCT) Receives Average Rating of “Hold” from Brokerages
PTC Therapeutics Inc. (NASDAQ:PTCT) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the company. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $29.04.
PTCT has been the subject of a number of research analyst reports. Citigroup Inc. restated a “buy” rating and issued a $48.00 target price on shares of PTC Therapeutics in a research note on Tuesday, August 2nd. Credit Suisse Group AG set a $6.00 price objective on PTC Therapeutics and gave the company a “hold” rating in a research note on Friday, August 5th. Wedbush reiterated a “neutral” rating and set a $12.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, July 20th. Zacks Investment Research upgraded PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Finally, Cowen and Company reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Sunday, August 7th.
Several hedge funds have recently modified their holdings of PTCT. Numeric Investors LLC purchased a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $887,000. Adage Capital Partners GP L.L.C. raised its stake in shares of PTC Therapeutics by 40.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 350,000 shares of the biopharmaceutical company’s stock valued at $2,457,000 after buying an additional 100,000 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of PTC Therapeutics during the second quarter valued at approximately $203,000. Barclays PLC raised its stake in shares of PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 238 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of PTC Therapeutics by 178.9% in the second quarter. Parametric Portfolio Associates LLC now owns 53,184 shares of the biopharmaceutical company’s stock valued at $373,000 after buying an additional 34,112 shares during the last quarter. 83.32% of the stock is owned by institutional investors.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded down 9.37% on Tuesday, hitting $9.96. The stock had a trading volume of 3,701,555 shares. The stock has a 50 day moving average of $7.95 and a 200-day moving average of $7.24. PTC Therapeutics has a 12 month low of $5.27 and a 12 month high of $35.76. The stock’s market cap is $339.47 million.
PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating the Zacks’ 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. PTC Therapeutics had a negative return on equity of 80.50% and a negative net margin of 305.62%. The firm’s revenue for the quarter was up 150.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.14) EPS. Equities research analysts anticipate that PTC Therapeutics will post ($4.95) EPS for the current year.
PTC Therapeutics Company Profile
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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