Analysts Set PTC Therapeutics, Inc. (PTCT) PT at $18.14
PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.14.
A number of research firms have recently issued reports on PTCT. ValuEngine downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Barclays restated a “hold” rating and issued a $22.00 price target on shares of PTC Therapeutics in a research note on Friday, September 8th. Zacks Investment Research raised PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, August 30th. J P Morgan Chase & Co cut PTC Therapeutics from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $23.00 to $15.00 in a report on Monday, October 9th. Finally, Citigroup reaffirmed a “buy” rating and issued a $28.00 target price on shares of PTC Therapeutics in a report on Wednesday, September 27th.
PTC Therapeutics (PTCT) traded down $0.70 during mid-day trading on Monday, hitting $15.95. The stock had a trading volume of 931,894 shares, compared to its average volume of 1,018,446. PTC Therapeutics has a 52-week low of $8.12 and a 52-week high of $22.00. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98.
A number of institutional investors have recently made changes to their positions in PTCT. RTW Investments LP raised its holdings in PTC Therapeutics by 5.8% during the third quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock valued at $69,938,000 after acquiring an additional 190,929 shares during the period. Vanguard Group Inc. raised its holdings in PTC Therapeutics by 17.2% during the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after acquiring an additional 346,525 shares during the period. State Street Corp raised its holdings in PTC Therapeutics by 219.1% during the first quarter. State Street Corp now owns 1,896,674 shares of the biopharmaceutical company’s stock valued at $18,668,000 after acquiring an additional 1,302,278 shares during the period. FMR LLC raised its holdings in PTC Therapeutics by 4.1% during the second quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock valued at $12,904,000 after acquiring an additional 27,500 shares during the period. Finally, Northern Trust Corp raised its holdings in PTC Therapeutics by 8.5% during the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock valued at $11,275,000 after acquiring an additional 48,308 shares during the period. 86.18% of the stock is currently owned by institutional investors.
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About PTC Therapeutics
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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