PTC Therapeutics Inc. (PTCT) Sees Large Volume Increase
PTC Therapeutics Inc. (NASDAQ:PTCT) saw an uptick in trading volume on Wednesday . 1,288,864 shares traded hands during trading, an increase of 46% from the previous session’s volume of 883,933 shares.The stock last traded at $7.37 and had previously closed at $6.86.
Several brokerages have recently issued reports on PTCT. Royal Bank Of Canada reissued a “sector perform” rating and set a $9.00 price objective on shares of PTC Therapeutics in a research note on Monday, April 18th. Cowen and Company reissued a “hold” rating on shares of PTC Therapeutics in a research note on Sunday, April 17th. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $39.00 price objective on shares of PTC Therapeutics in a research note on Sunday, April 17th. Zacks Investment Research cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of PTC Therapeutics in a research note on Friday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. PTC Therapeutics has an average rating of “Hold” and a consensus target price of $36.13.
The company has a 50-day moving average price of $7.19 and a 200 day moving average price of $11.72. The stock’s market cap is $244.56 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, beating the Thomson Reuters’ consensus estimate of ($1.26) by $0.04. The firm earned $18.90 million during the quarter, compared to analysts’ expectations of $13.74 million. During the same quarter last year, the company posted ($1.15) EPS. The firm’s revenue was up 152.0% compared to the same quarter last year. Equities research analysts expect that PTC Therapeutics Inc. will post ($4.95) earnings per share for the current fiscal year.
Other large investors have recently modified their holdings of the company. Jennison Associates LLC increased its stake in shares of PTC Therapeutics by 5.9% in the fourth quarter. Jennison Associates LLC now owns 1,023,987 shares of the biopharmaceutical company’s stock valued at $33,177,000 after buying an additional 57,092 shares during the period. Marshall Wace LLP increased its stake in shares of PTC Therapeutics by 50.6% in the fourth quarter. Marshall Wace LLP now owns 44,410 shares of the biopharmaceutical company’s stock valued at $1,439,000 after buying an additional 14,926 shares during the period. Turner Investments L.P. purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $1,532,000. Pinnacle Associates Ltd. increased its stake in shares of PTC Therapeutics by 59.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 380,092 shares of the biopharmaceutical company’s stock valued at $12,315,000 after buying an additional 141,322 shares during the period. Finally, South Dakota Investment Council purchased a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $2,145,000.
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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