PTC Therapeutics, Inc. (PTCT) Trading 5.3% Higher
Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) traded up 5.3% on Monday . The stock traded as high as $19.79 and last traded at $19.51. 1,555,512 shares changed hands during mid-day trading, an increase of 139% from the average session volume of 651,323 shares. The stock had previously closed at $18.52.
Several analysts have weighed in on the stock. Barclays PLC reiterated a “hold” rating and issued a $22.00 price objective on shares of PTC Therapeutics in a research note on Friday, September 8th. ValuEngine cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, August 30th. William Blair assumed coverage on shares of PTC Therapeutics in a research note on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 price objective for the company. Finally, BidaskClub cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $17.10.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.45. PTC Therapeutics had a negative net margin of 88.43% and a negative return on equity of 81.84%. The firm had revenue of $47.96 million for the quarter, compared to the consensus estimate of $28.78 million. During the same period in the prior year, the firm posted ($1.14) earnings per share. The company’s revenue for the quarter was up 206.9% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. AXA purchased a new stake in shares of PTC Therapeutics in the first quarter worth about $103,000. Nisa Investment Advisors LLC purchased a new stake in shares of PTC Therapeutics in the second quarter worth about $125,000. Public Employees Retirement System of Ohio purchased a new stake in shares of PTC Therapeutics in the second quarter worth about $142,000. Janney Montgomery Scott LLC purchased a new stake in shares of PTC Therapeutics in the first quarter worth about $163,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of PTC Therapeutics in the first quarter worth about $187,000. 81.30% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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