PTC Therapeutics (PTCT) Given New $40.00 Price Target at Barclays
PTC Therapeutics (NASDAQ:PTCT) had its price objective reduced by Barclays from $43.00 to $40.00 in a report issued on Tuesday morning. They currently have an equal weight rating on the biopharmaceutical company’s stock.
Several other equities analysts have also issued reports on the stock. Credit Suisse Group lifted their price target on shares of PTC Therapeutics from $49.00 to $53.00 and gave the stock an outperform rating in a report on Wednesday, September 5th. Citigroup reaffirmed a buy rating and issued a $50.00 price target (up from $35.00) on shares of PTC Therapeutics in a report on Tuesday, July 24th. Cantor Fitzgerald started coverage on shares of PTC Therapeutics in a report on Monday, October 1st. They issued an overweight rating and a $66.00 price target on the stock. ValuEngine raised shares of PTC Therapeutics from a buy rating to a strong-buy rating in a report on Friday, August 10th. Finally, William Blair reaffirmed a buy rating on shares of PTC Therapeutics in a report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. PTC Therapeutics currently has a consensus rating of Buy and an average price target of $46.25.
NASDAQ PTCT traded down $2.54 on Tuesday, hitting $33.76. The stock had a trading volume of 613,911 shares, compared to its average volume of 682,113. The company has a current ratio of 2.73, a quick ratio of 4.18 and a debt-to-equity ratio of 0.37. PTC Therapeutics has a 52-week low of $14.87 and a 52-week high of $52.95. The firm has a market capitalization of $1.84 billion, a P/E ratio of -16.71 and a beta of 2.21.
Large investors have recently bought and sold shares of the company. PointState Capital LP acquired a new stake in shares of PTC Therapeutics during the second quarter worth $10,929,000. SG Americas Securities LLC acquired a new stake in shares of PTC Therapeutics during the second quarter worth $284,000. Bank of New York Mellon Corp lifted its stake in shares of PTC Therapeutics by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 185,830 shares of the biopharmaceutical company’s stock worth $6,269,000 after buying an additional 6,600 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in shares of PTC Therapeutics during the second quarter worth $216,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of PTC Therapeutics by 32.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 295,635 shares of the biopharmaceutical company’s stock worth $9,972,000 after buying an additional 72,308 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.
About PTC Therapeutics
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.
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