PTC Therapeutics Inc. (PTCT) Stock Rating Upgraded by Zacks Investment Research
PTC Therapeutics Inc. (NASDAQ:PTCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $14.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective suggests a potential upside of 10.76% from the company’s current price.
According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “
A number of other research analysts have also issued reports on PTCT. Credit Suisse Group AG upgraded PTC Therapeutics from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $15.00 to $25.00 in a report on Monday. Wedbush reiterated a “neutral” rating and issued a $7.00 target price (down from $12.00) on shares of PTC Therapeutics in a report on Friday, November 11th. RBC Capital Markets lifted their target price on PTC Therapeutics to $13.00 and gave the company a “hold” rating in a report on Friday, November 11th. Royal Bank Of Canada decreased their target price on PTC Therapeutics to $13.00 and set a “sector perform” rating for the company in a report on Friday, November 11th. Finally, Citigroup Inc. upgraded PTC Therapeutics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $7.00 to $15.00 in a report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $31.72.
PTC Therapeutics (NASDAQ:PTCT) opened at 12.64 on Friday. PTC Therapeutics has a one year low of $4.03 and a one year high of $35.40. The firm’s market capitalization is $431.85 million. The stock has a 50 day moving average price of $9.43 and a 200-day moving average price of $8.15.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.22) by $0.19. PTC Therapeutics had a negative return on equity of 90.33% and a negative net margin of 236.68%. The business earned $23 million during the quarter, compared to analysts’ expectations of $19.76 million. During the same period in the previous year, the firm posted ($1.27) earnings per share. The company’s revenue was up 135.1% on a year-over-year basis. On average, analysts predict that PTC Therapeutics will post ($4.42) earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of PTCT. Barclays PLC boosted its position in shares of PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 238 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of PTC Therapeutics during the third quarter valued at about $140,000. State Board of Administration of Florida Retirement System boosted its position in shares of 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 valued at $147,000 after buying an additional 436 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in shares of PTC Therapeutics during the second quarter valued at about $158,000. Finally, First Trust Advisors LP bought a new position in shares of PTC Therapeutics during the third quarter valued at about $188,000. Hedge funds and other 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.
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.