PTC Therapeutics Inc. (PTCT) Trading 3.5% Higher
PTC Therapeutics Inc. (NASDAQ:PTCT) shares traded up 3.5% during mid-day trading on Wednesday . The company traded as high as $7.97 and last traded at $7.96, with a volume of 336,363 shares. The stock had previously closed at $7.69.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Citigroup Inc. raised their price target on shares of PTC Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Sunday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Finally, Credit Suisse Group AG set a $6.00 target price on shares of PTC Therapeutics and gave the stock a “hold” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $34.72.
The stock’s market cap is $265.51 million. The company’s 50 day moving average is $7.31 and its 200-day moving average is $7.96.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.27) by $0.13. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. The company’s revenue was up 150.0% on a year-over-year basis. During the same quarter last year, the firm earned ($1.14) EPS. Equities research analysts expect that PTC Therapeutics Inc. will post ($4.95) EPS for the current year.
An institutional investor recently raised its position in PTC Therapeutics stock. BlackRock Advisors LLC increased its stake in shares of PTC Therapeutics Inc. (NASDAQ:PTCT) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 505,966 shares of the biopharmaceutical company’s stock after buying an additional 11,568 shares during the period. BlackRock Advisors LLC owned approximately 1.49% of PTC Therapeutics worth $16,393,000 at the end of the most recent 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.