PTC Therapeutics Inc. (PTCT) Stock Price Up 1.6%
PTC Therapeutics Inc. (NASDAQ:PTCT)’s share price rose 1.6% during trading on Friday . The company traded as high as $7.12 and last traded at $7.02, with a volume of 285,866 shares traded. The stock had previously closed at $6.91.
PTCT has been the subject of a number of research reports. Wedbush reaffirmed a “neutral” rating and issued a $11.00 price objective on shares of PTC Therapeutics in a report on Wednesday, March 23rd. Credit Suisse Group AG reiterated a “buy” rating on shares of PTC Therapeutics in a research note on Friday, May 6th. Cowen and Company reiterated a “hold” rating on shares of PTC Therapeutics in a research note on Sunday, April 17th. Zacks Investment Research cut PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 target price on shares of PTC Therapeutics in a research note on Monday, April 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.05.
The firm’s 50 day moving average price is $7.27 and its 200 day moving average price is $12.31. The company’s market cap is $242.52 million.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($1.22) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.04. The business had revenue of $18.90 million for the quarter, compared to analyst estimates of $13.74 million. During the same quarter last year, the firm earned ($1.15) earnings per share. The firm’s quarterly revenue was up 152.0% compared to the same quarter last year. On average, equities analysts predict that PTC Therapeutics Inc. will post ($4.95) EPS for the current year.
Other hedge funds have recently added to or reduced their stakes in the company. South Dakota Investment Council purchased a new stake in PTC Therapeutics during the fourth quarter worth about $2,145,000. CAM Group Holding A S purchased a new stake in PTC Therapeutics during the fourth quarter worth about $2,064,000. Gratus Capital LLC boosted its stake in PTC Therapeutics by 9.7% in the fourth quarter. Gratus Capital LLC now owns 53,350 shares of the biopharmaceutical company’s stock worth $1,729,000 after buying an additional 4,700 shares in the last quarter. Turner Investments L.P. purchased a new stake in PTC Therapeutics during the fourth quarter worth about $1,532,000. Finally, California State Teachers Retirement System boosted its stake in PTC Therapeutics by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 62,719 shares of the biopharmaceutical company’s stock worth $2,032,000 after buying an additional 1,100 shares in the last 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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