Zacks Investment Research upgraded shares of PTC Therapeutics Inc. (NASDAQ:PTCT) from a hold rating to a buy rating in a research note released on Friday morning. The firm currently has $14.00 price objective on the biopharmaceutical company’s stock.

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. “

Several other equities analysts have also recently issued reports on the company. Cowen and Company reaffirmed a market perform rating on shares of PTC Therapeutics in a report on Friday, November 4th. Wedbush reaffirmed a neutral rating and set a $7.00 price objective (down from $12.00) on shares of PTC Therapeutics in a report on Friday, November 11th. RBC Capital Markets lifted their price objective on PTC Therapeutics to $13.00 and gave the stock a hold rating in a report on Friday, November 11th. Royal Bank Of Canada reduced their price objective on PTC Therapeutics to $13.00 and set a sector perform rating for the company in a report on Friday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on PTC Therapeutics from $18.00 to $17.00 and set a neutral rating for the company in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $31.72.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

PTC Therapeutics (NASDAQ:PTCT) opened at 12.41 on Friday. The stock’s 50 day moving average price is $9.17 and its 200-day moving average price is $8.33. The stock’s market capitalization 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 posted its quarterly earnings results 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 firm had revenue of $23 million for the quarter, compared to the consensus estimate of $19.76 million. During the same period in the previous year, the business earned ($1.27) earnings per share. The company’s revenue for the quarter was up 135.1% compared to the same quarter last year. Analysts expect that PTC Therapeutics will post ($4.42) earnings per share for the current year.

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Several large investors have recently modified their holdings of PTCT. Barclays PLC increased 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 worth $103,000 after buying an additional 238 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of PTC Therapeutics during the third quarter worth approximately $140,000. State Board of Administration of Florida Retirement System increased 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 worth $147,000 after buying an additional 436 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of PTC Therapeutics during the second quarter worth approximately $158,000. Finally, First Trust Advisors LP acquired a new position in shares of PTC Therapeutics during the third quarter worth approximately $188,000. 84.81% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:PTCT

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