PTC Therapeutics Inc. (PTCT) Price Target Cut to $13.00
PTC Therapeutics Inc. (NASDAQ:PTCT) had its price target reduced by stock analysts at Royal Bank Of Canada to $13.00 in a report issued on Friday. The brokerage presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 7.88% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Credit Suisse Group AG lowered shares of PTC Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 26th. Wedbush reiterated a “neutral” rating and issued a $10.00 target price (up previously from $7.00) on shares of PTC Therapeutics in a research note on Thursday, November 3rd. Citigroup Inc. upped their target price on shares of PTC Therapeutics from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.12.
PTC Therapeutics (NASDAQ:PTCT) opened at 12.05 on Friday. The company has a 50-day moving average of $9.39 and a 200 day moving average of $8.06. The company’s market capitalization is $411.69 million. PTC Therapeutics has a 12-month low of $4.03 and a 12-month high of $35.40.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.19. PTC Therapeutics had a negative net margin of 236.68% and a negative return on equity of 90.33%. The business had revenue of $23 million for the quarter, compared to analyst estimates of $19.76 million. During the same quarter in the previous year, the firm posted ($1.27) earnings per share. PTC Therapeutics’s quarterly revenue was up 135.1% on a year-over-year basis. Equities research analysts forecast that PTC Therapeutics will post ($4.42) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of PTC Therapeutics by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 150,068 shares of the biopharmaceutical company’s stock worth $1,053,000 after buying an additional 5,044 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of PTC Therapeutics by 24.9% in the second quarter. Alps Advisors Inc. now owns 48,135 shares of the biopharmaceutical company’s stock worth $338,000 after buying an additional 9,594 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of PTC Therapeutics during the second quarter worth approximately $190,000. Fisher Asset Management LLC boosted its stake in shares of PTC Therapeutics by 4.6% in the second quarter. Fisher Asset Management LLC now owns 89,642 shares of the biopharmaceutical company’s stock worth $670,000 after buying an additional 3,942 shares in the last quarter. Finally, Bellevue Group AG acquired a new stake in shares of PTC Therapeutics during the first quarter worth approximately $225,000. 83.47% of the stock is owned by institutional investors and hedge funds.
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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