PTC Therapeutics Inc. (PTCT) Given Hold Rating at Bank of America Corp.
Bank of America Corp. reaffirmed their hold rating on shares of PTC Therapeutics Inc. (NASDAQ:PTCT) in a research report report published on Monday morning. They currently have a $15.00 price objective on the biopharmaceutical company’s stock.
Several other equities research analysts have also weighed in on PTCT. Zacks Investment Research lowered shares of PTC Therapeutics from a hold rating to a sell rating in a report on Thursday, July 7th. Wedbush reissued a neutral rating and set a $12.00 price objective on shares of PTC Therapeutics in a report on Wednesday, July 20th. Credit Suisse Group AG lowered shares of PTC Therapeutics from an outperform rating to a neutral rating in a report on Tuesday, July 26th. Citigroup Inc. reissued a buy rating and set a $48.00 price objective on shares of PTC Therapeutics in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PTC Therapeutics from $18.00 to $17.00 and set a neutral rating on the stock in a report on Friday, August 5th. One 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 stock. The stock has an average rating of Hold and a consensus target price of $33.12.
PTC Therapeutics (NASDAQ:PTCT) traded down 0.60% during mid-day trading on Monday, hitting $13.28. 122,205 shares of the company were exchanged. The stock’s market cap is $452.62 million. PTC Therapeutics has a 12-month low of $5.27 and a 12-month high of $35.76. The company has a 50 day moving average of $9.28 and a 200 day moving average of $7.66.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. During the same quarter in the prior year, the firm earned ($1.14) EPS. The firm’s quarterly revenue was up 150.0% compared to the same quarter last year. On average, equities research analysts expect that PTC Therapeutics will post ($4.95) earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. Numeric Investors LLC bought a new position in PTC Therapeutics during the second quarter worth approximately $887,000. Adage Capital Partners GP L.L.C. boosted its position in PTC Therapeutics by 40.0% in the second quarter. Adage Capital Partners GP L.L.C. now owns 350,000 shares of the biopharmaceutical company’s stock worth $2,457,000 after buying an additional 100,000 shares during the period. Eagle Global Advisors LLC bought a new position in PTC Therapeutics during the second quarter worth approximately $203,000. Barclays PLC boosted its position in PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 238 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in PTC Therapeutics by 178.9% in the second quarter. Parametric Portfolio Associates LLC now owns 53,184 shares of the biopharmaceutical company’s stock worth $373,000 after buying an additional 34,112 shares during the period. 83.32% of the stock is owned by hedge funds and other institutional investors.
PTC Therapeutics Company Profile
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.