PTC Therapeutics Inc. (PTCT) Shares Up 1.9% on Analyst Upgrade
PTC Therapeutics Inc. (NASDAQ:PTCT) shot up 1.9% on Wednesday after Credit Suisse Group AG raised their price target on the stock to $15.00. Credit Suisse Group AG currently has a neutral rating on the stock. PTC Therapeutics traded as high as $13.70 and last traded at $13.53, with a volume of 290,587 shares changing hands. The stock had previously closed at $13.28.
PTCT has been the subject of a number of other reports. 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. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Citigroup Inc. reissued a “buy” rating and issued a $48.00 price target on shares of PTC Therapeutics in a report on Tuesday, August 2nd. Wedbush reissued a “neutral” rating and issued a $10.00 price target on shares of PTC Therapeutics in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. cut 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.82.
Hedge funds have recently bought and sold shares of the company. Barclays PLC raised 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 worth $103,000 after buying an additional 238 shares during the period. State Board of Administration of Florida Retirement System raised 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 worth $147,000 after buying an additional 436 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in PTC Therapeutics during the second quarter worth about $158,000. Bank of Montreal Can bought a new stake in PTC Therapeutics during the second quarter worth about $190,000. Finally, Eagle Global Advisors LLC bought a new stake in PTC Therapeutics during the second quarter worth about $203,000. 83.32% of the stock is owned by institutional investors and hedge funds.
The stock has a 50 day moving average price of $10.34 and a 200-day moving average price of $8.01. The company’s market capitalization is $457.05 million.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.27) by $0.13. The firm earned $15.40 million during the quarter, compared to analyst estimates of $15.24 million. PTC Therapeutics had a negative return on equity of 80.50% and a negative net margin of 305.62%. The company’s revenue was up 150.0% on a year-over-year basis. During the same period last year, the company earned ($1.14) earnings per share. On average, equities research analysts anticipate that PTC Therapeutics Inc. will post ($4.95) EPS for the current fiscal year.
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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