PTC Therapeutics Inc. (PTCT) Stock Rating Upgraded by Credit Suisse Group AG
PTC Therapeutics Inc. (NASDAQ:PTCT) was upgraded by equities researchers at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday. The firm presently has a $25.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $15.00. Credit Suisse Group AG’s price objective would suggest a potential upside of 107.13% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Citigroup Inc. restated a “buy” rating and set a $48.00 target price on shares of PTC Therapeutics in a research report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of PTC Therapeutics from a “sell” rating to a “buy” rating and set a $6.25 target price on the stock in a research report on Tuesday, November 8th. Cowen and Company restated a “hold” rating on shares of PTC Therapeutics in a research report on Sunday, August 7th. Bank of America Corp. reiterated a “hold” rating and issued a $15.00 price target on shares of PTC Therapeutics in a research report on Monday, October 3rd. Finally, Jefferies Group reiterated a “hold” rating and issued a $7.00 price target on shares of PTC Therapeutics in a research report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.12.
Shares of PTC Therapeutics (NASDAQ:PTCT) opened at 12.07 on Monday. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $35.40. The firm has a 50-day moving average of $9.40 and a 200-day moving average of $8.09. The firm’s market capitalization is $412.37 million.
PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 had revenue of $23 million for the quarter, compared to the consensus estimate of $19.76 million. During the same period in the prior year, the company posted ($1.27) EPS. The company’s revenue was up 135.1% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Therapeutics will post ($4.42) EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of PTC Therapeutics by 48.4% in the first quarter. Wellington Management Group LLP now owns 4,699,733 shares of the biopharmaceutical company’s stock valued at $30,267,000 after buying an additional 1,532,712 shares in the last quarter. Bellevue Group AG acquired a new position in shares of PTC Therapeutics during the first quarter valued at $225,000. BlackRock Group LTD boosted its position in shares of PTC Therapeutics by 1,020.2% in the first quarter. BlackRock Group LTD now owns 213,768 shares of the biopharmaceutical company’s stock valued at $1,377,000 after buying an additional 194,685 shares in the last quarter. BlackRock Inc. boosted its position in shares of PTC Therapeutics by 4,748.6% in the first quarter. BlackRock Inc. now owns 48,825 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 47,818 shares in the last quarter. Finally, 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 valued at $670,000 after buying an additional 3,942 shares in the last quarter. 83.47% of the stock is owned by institutional investors.
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.
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.