Credit Suisse Group AG Increases PTC Therapeutics Inc. (PTCT) Price Target to $15.00
PTC Therapeutics Inc. (NASDAQ:PTCT) had its price objective raised by analysts at Credit Suisse Group AG to $15.00 in a research note issued to investors on Tuesday. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Credit Suisse Group AG’s target price indicates a potential upside of 12.95% from the company’s previous close.
PTCT has been the topic of a number of other research reports. Jefferies Group restated a “hold” rating and issued a $7.00 target price on shares of PTC Therapeutics in a research note on Thursday, September 22nd. Wedbush restated a “neutral” rating and issued a $12.00 target price on shares of PTC Therapeutics in a research note on Wednesday, July 20th. Zacks Investment Research lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. Bank of America Corp. restated a “hold” rating and issued a $15.00 target price on shares of PTC Therapeutics in a research note on Monday, October 3rd. Finally, Citigroup Inc. restated a “buy” rating and issued a $48.00 target price on shares of PTC Therapeutics in a research note on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. PTC Therapeutics has a consensus rating of “Hold” and an average target price of $33.82.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded up 1.88% during midday trading on Tuesday, reaching $13.53. The company’s stock had a trading volume of 289,092 shares. PTC Therapeutics has a 1-year low of $5.27 and a 1-year high of $35.75. The stock has a 50 day moving average of $10.19 and a 200-day moving average of $7.97. The company’s market capitalization is $461.14 million.
PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.13. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The company’s revenue for the quarter was up 150.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.14) EPS. On average, equities research analysts anticipate that PTC Therapeutics will post ($4.95) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 valued at $103,000 after buying an additional 238 shares during the period. State Board of Administration of Florida Retirement System boosted its position in PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 436 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in PTC Therapeutics during the second quarter valued at about $158,000. Bank of Montreal Can bought a new position in PTC Therapeutics during the second quarter valued at about $190,000. Finally, Eagle Global Advisors LLC bought a new position in PTC Therapeutics during the second quarter valued at about $203,000. Institutional investors and hedge funds own 83.32% of the company’s stock.
About PTC Therapeutics
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.
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