BidaskClub Lowers PTC Therapeutics, Inc. (PTCT) to Buy
BidaskClub downgraded shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) from a strong-buy rating to a buy rating in a research report released on Friday.
Other equities research analysts have also issued reports about the company. Zacks Investment Research raised PTC Therapeutics from a hold rating to a buy rating and set a $14.00 price target for the company in a research report on Wednesday, May 3rd. Citigroup Inc. set a $18.00 price target on PTC Therapeutics and gave the company a buy rating in a research report on Wednesday, June 7th. Royal Bank Of Canada set a $12.00 price target on PTC Therapeutics and gave the company a hold rating in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co reissued a neutral rating and issued a $21.00 price target (up from $15.00) on shares of PTC Therapeutics in a research report on Friday, June 30th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $15.11.
PTC Therapeutics (NASDAQ:PTCT) traded up 0.076% during mid-day trading on Friday, hitting $19.765. 171,947 shares of the stock were exchanged. The stock has a 50 day moving average price of $18.99 and a 200 day moving average price of $13.82. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $21.85. The company’s market capitalization is $678.26 million.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.03. The business had revenue of $26.50 million during the quarter, compared to analyst estimates of $27.93 million. PTC Therapeutics had a negative return on equity of 98.77% and a negative net margin of 143.80%. PTC Therapeutics’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.22) EPS. On average, equities analysts anticipate that PTC Therapeutics will post ($3.52) earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This story was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://www.dailypolitical.com/2017/08/07/bidaskclub-lowers-ptc-therapeutics-inc-ptct-to-buy.html.
In other PTC Therapeutics news, Director Dawn Svoronos bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was purchased at an average cost of $13.49 per share, with a total value of $337,250.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $337,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.10% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. AXA acquired a new stake in shares of PTC Therapeutics during the first quarter valued at about $103,000. Nisa Investment Advisors LLC purchased a new position in PTC Therapeutics during the second quarter valued at $125,000. Janney Montgomery Scott LLC purchased a new position in PTC Therapeutics during the first quarter valued at $163,000. Virginia Retirement Systems ET AL purchased a new position in PTC Therapeutics during the first quarter valued at $187,000. Finally, American International Group Inc. increased its position in PTC Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 1,355 shares during the last quarter. 77.00% of the stock is owned by hedge funds and other institutional investors.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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.