Citigroup Inc. upgraded shares of PTC Therapeutics Inc. (NASDAQ:PTCT) from a neutral rating to a buy rating in a report issued on Friday. They currently have $15.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $7.00.

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 report on Tuesday, July 26th. Wedbush reissued a neutral rating and issued a $10.00 price objective (up previously from $7.00) on shares of PTC Therapeutics in a research report on Thursday, November 3rd. JPMorgan Chase & Co. dropped their price objective on shares of PTC Therapeutics from $18.00 to $17.00 and set a neutral rating for the company in a research report on Friday, August 5th. Zacks Investment Research raised shares of PTC Therapeutics from a sell rating to a hold rating in a research report on Friday, August 12th. Finally, Cowen and Company reissued a hold rating on shares of PTC Therapeutics in a research report on Sunday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $31.12.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

Shares of PTC Therapeutics (NASDAQ:PTCT) opened at 12.07 on Friday. The stock’s market capitalization is $412.37 million. PTC Therapeutics has a 12 month low of $4.03 and a 12 month high of $35.40. The company has a 50-day moving average of $9.40 and a 200-day moving average of $8.09.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share (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 company earned $23 million during the quarter, compared to analyst estimates of $19.76 million. During the same quarter in the prior year, the business earned ($1.27) earnings per share. The business’s quarterly revenue was up 135.1% compared to the same quarter last year. On average, equities research analysts expect that PTC Therapeutics will post ($4.42) EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in 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 period. Alps Advisors Inc. increased its stake in 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 period. Bank of Montreal Can bought a new stake in PTC Therapeutics during the second quarter worth approximately $190,000. Fisher Asset Management LLC increased its stake in 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 period. Finally, Bellevue Group AG bought a new stake in PTC Therapeutics during the first quarter worth approximately $225,000. Institutional investors own 83.47% of the company’s stock.

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.

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