PTC Therapeutics Inc. (PTCT) Lowered to Neutral at Credit Suisse Group AG
PTC Therapeutics Inc. (NASDAQ:PTCT) was downgraded by research analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday.
Other analysts have also recently issued reports about the stock. Oppenheimer Holdings Inc. restated a “buy” rating and issued a $39.00 price target on shares of PTC Therapeutics in a report on Sunday, April 17th. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $12.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, July 20th. Jefferies Group reaffirmed a “hold” rating and issued a $8.00 price objective on shares of PTC Therapeutics in a research report on Friday, May 6th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $9.00 price objective on shares of PTC Therapeutics in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, ten 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 an average price target of $33.12.
PTC Therapeutics (NASDAQ:PTCT) traded down 1.84% during trading on Tuesday, hitting $13.34. 950,176 shares of the company’s stock were exchanged. The firm’s market cap is $454.67 million. The company’s 50-day moving average price is $9.89 and its 200 day moving average price is $7.85. PTC Therapeutics has a 12-month low of $5.27 and a 12-month high of $35.75.
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PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The business had revenue of $15.40 million for the quarter, compared to analysts’ expectations of $15.24 million. During the same period last year, the business earned ($1.14) EPS. The company’s revenue was up 150.0% compared to the same quarter last year. Equities analysts forecast that PTC Therapeutics will post ($4.95) earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in 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. State Board of Administration of Florida Retirement System raised its position in 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 purchased a new position in PTC Therapeutics during the second quarter valued at $158,000. Bank of Montreal Can purchased a new position in PTC Therapeutics during the second quarter valued at $190,000. Finally, Eagle Global Advisors LLC purchased a new position in PTC Therapeutics during the second quarter valued at $203,000. 83.32% of the stock is owned by hedge funds and other 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.
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