PTC Therapeutics (PTCT) Receives Buy Rating from Credit Suisse Group
PTC Therapeutics (NASDAQ:PTCT)‘s stock had its “buy” rating reiterated by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Tuesday. They currently have a $28.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 6.50% from the company’s previous close.
A number of other equities research analysts have also recently commented on PTCT. Royal Bank of Canada assumed coverage on shares of PTC Therapeutics in a research note on Monday. They set a “sector perform” rating on the stock. Barclays reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Tuesday, January 23rd. Zacks Investment Research cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. ValuEngine upgraded PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. increased their target price on PTC Therapeutics to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 24th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.57.
Shares of PTC Therapeutics (PTCT) opened at $26.29 on Tuesday. The company has a market cap of $1,090.00, a P/E ratio of -9.10 and a beta of 1.23. PTC Therapeutics has a one year low of $8.12 and a one year high of $28.75. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08.
In other news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $18.03, for a total transaction of $40,206.90. Following the transaction, the chief executive officer now owns 26,646 shares in the company, valued at approximately $480,427.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 2,719 shares of company stock worth $48,848 in the last quarter. Insiders own 8.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in PTC Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock valued at $11,275,000 after purchasing an additional 48,308 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in PTC Therapeutics by 56.3% in the 2nd quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 18,249 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PTC Therapeutics by 17.2% in the 2nd 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 in the last quarter. Nomura Holdings Inc. lifted its holdings in PTC Therapeutics by 28.7% in the 2nd quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 11,300 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in PTC Therapeutics by 15.9% in the 3rd quarter. Swiss National Bank now owns 65,565 shares of the biopharmaceutical company’s stock valued at $1,312,000 after purchasing an additional 9,000 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.
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PTC Therapeutics Company Profile
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.
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