PTC Therapeutics, Inc. (PTCT) Stock Price Down 1.5%
PTC Therapeutics, Inc. (NASDAQ:PTCT) shares traded down 1.5% during trading on Wednesday . The company traded as low as $17.96 and last traded at $18.90. 1,117,506 shares changed hands during trading, an increase of 15% from the average session volume of 968,119 shares. The stock had previously closed at $18.62.
A number of research analysts recently commented on the stock. Barclays PLC lowered their price objective on shares of PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Friday, September 29th. BidaskClub downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. William Blair assumed coverage on shares of PTC Therapeutics in a research report on Wednesday, August 23rd. They set a “market perform” rating and a $17.00 price objective on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of PTC Therapeutics in a research report on Friday, September 29th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $25.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $17.78.
The company has a 50 day moving average of $19.54 and a 200-day moving average of $16.05. The firm’s market capitalization is $821.95 million.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.89) by $0.45. PTC Therapeutics had a negative net margin of 88.43% and a negative return on equity of 81.84%. The company had revenue of $47.96 million for the quarter, compared to the consensus estimate of $28.78 million. During the same period last year, the company earned ($1.14) earnings per share. The firm’s revenue was up 206.9% compared to the same quarter last year. On average, analysts predict that PTC Therapeutics, Inc. will post ($2.34) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of PTC Therapeutics by 17.2% in the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after purchasing an additional 346,525 shares during the last quarter. State Street Corp raised its holdings in shares of PTC Therapeutics by 219.1% in the first quarter. State Street Corp now owns 1,896,674 shares of the biopharmaceutical company’s stock valued at $18,668,000 after purchasing an additional 1,302,278 shares during the last quarter. Boxer Capital LLC acquired a new stake in shares of PTC Therapeutics in the first quarter valued at approximately $14,760,000. Camber Capital Management LLC acquired a new stake in shares of PTC Therapeutics in the first quarter valued at approximately $12,300,000. Finally, FMR LLC raised its holdings in shares of PTC Therapeutics by 4.1% in the second quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock valued at $12,904,000 after purchasing an additional 27,500 shares during the last quarter. Institutional investors own 81.30% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/06/ptc-therapeutics-inc-ptct-stock-price-down-1-5.html.
About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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.