PTC Therapeutics Inc. (PTCT) Lowered to “Hold” at Zacks Investment Research
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 equities research analysts have also weighed in on PTCT. Cowen and Company reissued a market perform rating on shares of PTC Therapeutics in a research note on Friday, November 4th. Wedbush restated a neutral rating and set a $7.00 price target (down previously from $12.00) on shares of PTC Therapeutics in a report on Friday, November 11th. RBC Capital Markets boosted their price target on PTC Therapeutics to $13.00 and gave the company a hold rating in a report on Friday, November 11th. Royal Bank Of Canada reduced their price target on PTC Therapeutics to $13.00 and set a sector perform rating on the stock in a report on Friday, November 11th. Finally, JPMorgan Chase & Co. reduced their price target on PTC Therapeutics from $18.00 to $17.00 and set a neutral rating on the stock in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. PTC Therapeutics has a consensus rating of Hold and a consensus target price of $31.72.
PTC Therapeutics (NASDAQ:PTCT) opened at 12.41 on Friday. The stock has a 50 day moving average price of $9.17 and a 200-day moving average price of $8.33. The company’s market cap is $423.99 million. PTC Therapeutics has a 12-month low of $4.03 and a 12-month high of $35.40.
PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates 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 company earned $23 million during the quarter, compared to analyst estimates of $19.76 million. During the same quarter in the previous year, the company posted ($1.27) EPS. PTC Therapeutics’s revenue for the quarter was up 135.1% on a year-over-year basis. On average, analysts predict that PTC Therapeutics will post ($4.42) EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. increased its stake in PTC Therapeutics by 21.6% in the first quarter. Prudential Financial Inc. now owns 108,850 shares of the biopharmaceutical company’s stock valued at $701,000 after buying an additional 19,300 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in PTC Therapeutics during the first quarter valued at $1,610,000. A.R.T. Advisors LLC bought a new stake in PTC Therapeutics during the first quarter valued at $1,412,000. 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 valued at $670,000 after buying an additional 3,942 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in PTC Therapeutics during the second quarter valued at $190,000. Institutional investors own 84.70% 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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