PTC Therapeutics Inc. (PTCT) Receives “Neutral” Rating from Wedbush
Wedbush reissued their neutral rating on shares of PTC Therapeutics Inc. (NASDAQ:PTCT) in a report published on Tuesday. They currently have a $10.00 target price on the biopharmaceutical company’s stock.
A number of other brokerages have also weighed in on PTCT. Bank of America Corp. reissued a hold rating and issued a $15.00 price target on shares of PTC Therapeutics in a report on Monday, October 3rd. Credit Suisse Group AG raised their price target on shares of PTC Therapeutics to $15.00 in a report on Tuesday. Jefferies Group reissued a hold rating and issued a $7.00 price target on shares of PTC Therapeutics in a report on Thursday, September 22nd. JPMorgan Chase & Co. lowered their price target on shares of PTC Therapeutics from $18.00 to $17.00 and set a neutral rating for the company in a report on Friday, August 5th. Finally, Citigroup Inc. raised their price target on shares of PTC Therapeutics from $8.00 to $9.00 and gave the company a neutral rating in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $33.82.
PTC Therapeutics (NASDAQ:PTCT) traded up 1.51% during midday trading on Tuesday, reaching $13.48. The company’s stock had a trading volume of 131,507 shares. PTC Therapeutics has a 12 month low of $5.27 and a 12 month high of $35.75. The firm’s market capitalization is $459.44 million. The stock’s 50-day moving average price is $10.19 and its 200-day moving average price is $7.97.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data 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. The company earned $15.40 million during 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 was up 150.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.14) earnings per share. Analysts predict that PTC Therapeutics will post ($4.95) EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its stake 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 in the last quarter. State Board of Administration of Florida Retirement System boosted its stake 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 in the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in PTC Therapeutics during the second quarter valued at approximately $158,000. Bank of Montreal Can bought a new stake in PTC Therapeutics during the second quarter valued at approximately $190,000. Finally, Eagle Global Advisors LLC bought a new stake in PTC Therapeutics during the second quarter valued at approximately $203,000. 83.32% of the stock is currently owned by 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.