PTC Therapeutics Inc. (PTCT) PT Raised to $13.00
PTC Therapeutics Inc. (NASDAQ:PTCT) had its price objective lifted by equities research analysts at RBC Capital Markets to $13.00 in a note issued to investors on Friday. The firm presently has a “hold” rating on the biopharmaceutical company’s stock. RBC Capital Markets’ target price suggests a potential upside of 7.88% from the stock’s current price.
Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada dropped their price objective on shares of PTC Therapeutics to $13.00 and set a “sector perform” rating on the stock in a report on Friday. Citigroup Inc. raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $7.00 to $15.00 in a report on Friday. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “buy” rating and set a $6.25 price objective on the stock in a report on Tuesday, November 8th. Cowen and Company reaffirmed a “market perform” rating on shares of PTC Therapeutics in a report on Friday, November 4th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $15.00 price objective on shares of PTC Therapeutics in a report on Thursday, November 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. PTC Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $31.12.
Shares of PTC Therapeutics (NASDAQ:PTCT) opened at 12.05 on Friday. The company’s market capitalization is $411.69 million. The company’s 50 day moving average is $9.39 and its 200 day moving average is $8.06. PTC Therapeutics has a one year low of $4.03 and a one year high of $35.40.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.22) by $0.19. The business had revenue of $23 million for the quarter, compared to the consensus estimate of $19.76 million. PTC Therapeutics had a negative net margin of 236.68% and a negative return on equity of 90.33%. The company’s revenue was up 135.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.27) earnings per share. Equities research analysts predict that PTC Therapeutics will post ($4.42) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position 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 during the last quarter. Alps Advisors Inc. boosted its position 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 during the last quarter. Bank of Montreal Can acquired a new position in shares of PTC Therapeutics during the second quarter worth approximately $190,000. Fisher Asset Management LLC boosted its position 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 during the last quarter. Finally, Bellevue Group AG acquired a new position in shares of PTC Therapeutics during the first quarter worth approximately $225,000. Institutional investors and hedge funds own 83.47% 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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