PTC Therapeutics Inc. (PTCT) Sees Large Volume Increase
Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) saw strong trading volume on Tuesday . 3,292,862 shares traded hands during trading, an increase of 134% from the previous session’s volume of 1,409,193 shares.The stock last traded at $9.97 and had previously closed at $10.99.
Several equities analysts have recently weighed in on the company. Citigroup Inc. raised their price target on PTC Therapeutics from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Sunday, August 7th. JPMorgan Chase & Co. dropped their price objective on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, August 5th. Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $12.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, July 20th. One 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. The company presently has a consensus rating of “Hold” and an average target price of $34.72.
The stock’s market cap is $347.99 million. The stock has a 50-day moving average of $7.95 and a 200 day moving average of $7.24.
PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results 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 had revenue of $15.40 million for 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 business’s revenue for the quarter was up 150.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.14) EPS. Equities analysts anticipate that PTC Therapeutics Inc. will post ($4.95) EPS for the current fiscal year.
Several large investors have recently modified their holdings of PTCT. Wellington Management Group LLP increased its position in shares of PTC Therapeutics by 48.4% in the first quarter. Wellington Management Group LLP now owns 4,699,733 shares of the biopharmaceutical company’s stock worth $30,267,000 after buying an additional 1,532,712 shares in the last quarter. Spark Investment Management LLC increased its position in shares of PTC Therapeutics by 1,466.3% in the first quarter. Spark Investment Management LLC now owns 274,100 shares of the biopharmaceutical company’s stock worth $1,765,000 after buying an additional 256,600 shares during the last quarter. Bellevue Group AG purchased a new position in shares of PTC Therapeutics during the first quarter worth about $225,000. BlackRock Group LTD increased its position in shares of PTC Therapeutics by 1,020.2% in the first quarter. BlackRock Group LTD now owns 213,768 shares of the biopharmaceutical company’s stock worth $1,377,000 after buying an additional 194,685 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of PTC Therapeutics during the first quarter worth about $6,110,000. Hedge funds and other institutional investors own 83.32% of the company’s stock.
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.
Receive News & Ratings for PTC Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.