PTC Therapeutics Inc. (PTCT) Shares Up 1.9% on Analyst Upgrade
Shares of PTC Therapeutics Inc. (NASDAQ:PTCT) were up 1.9% during trading on Wednesday after Credit Suisse Group AG raised their price target on the stock to $15.00. Credit Suisse Group AG currently has a neutral rating on the stock. PTC Therapeutics traded as high as $13.70 and last traded at $13.53, with a volume of 290,587 shares traded. The stock had previously closed at $13.28.
PTCT has been the subject of several other reports. Jefferies Group restated a “hold” rating and set a $7.00 target price on shares of PTC Therapeutics in a research report on Thursday, September 22nd. Wedbush restated a “neutral” rating and set a $12.00 target price on shares of PTC Therapeutics in a research report on Wednesday, July 20th. Zacks Investment Research lowered PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 7th. Bank of America Corp. restated a “hold” rating and set a $15.00 target price on shares of PTC Therapeutics in a research report on Monday, October 3rd. Finally, Citigroup Inc. restated a “buy” rating and set a $48.00 target price on shares of PTC Therapeutics in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $33.82.
A number of large investors have recently added to or reduced their stakes in PTCT. Barclays PLC boosted its stake in 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. State Board of Administration of Florida Retirement System boosted its stake in PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 436 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in PTC Therapeutics during the second quarter valued at approximately $158,000. Bank of Montreal Can purchased a new stake in PTC Therapeutics during the second quarter valued at approximately $190,000. Finally, Eagle Global Advisors LLC purchased a new stake in PTC Therapeutics during the second quarter valued at approximately $203,000. Hedge funds and other institutional investors own 83.32% of the company’s stock.
The company’s 50 day moving average is $10.34 and its 200-day moving average is $8.01. The stock’s market cap is $457.05 million.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, beating the 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 business’s quarterly revenue was up 150.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.14) earnings per share. On average, equities analysts expect that PTC Therapeutics Inc. will post ($4.95) earnings per share for the current fiscal 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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