Wedbush Reiterates “Neutral” Rating for PTC Therapeutics Inc. (PTCT)
PTC Therapeutics Inc. (NASDAQ:PTCT)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a research report issued to clients and investors on Tuesday. They currently have a $10.00 price target on the biopharmaceutical company’s stock. Wedbush’s price objective would indicate a potential downside of 26.42% from the stock’s current price.
Other analysts have also issued reports about the company. Credit Suisse Group AG lifted their price target on PTC Therapeutics to $15.00 in a research note on Tuesday. Citigroup Inc. reaffirmed a “buy” rating and issued a $48.00 price target on shares of PTC Therapeutics in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Bank of America Corp. reiterated a “hold” rating and set a $15.00 price objective on shares of PTC Therapeutics in a research report on Monday, October 3rd. Finally, Jefferies Group reiterated a “hold” rating and set a $7.00 price objective on shares of PTC Therapeutics in a research report on Thursday, September 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $33.82.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded down 2.72% during trading on Tuesday, reaching $13.22. The company’s stock had a trading volume of 1,063,217 shares. The stock has a 50 day moving average of $10.05 and a 200-day moving average of $7.93. PTC Therapeutics has a 1-year low of $5.27 and a 1-year high of $35.75. The company’s market capitalization is $450.58 million.
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PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.27) by $0.13. The firm had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. PTC Therapeutics had a negative return on equity of 80.50% and a negative net margin of 305.62%. The business’s revenue was up 150.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.14) earnings per share. On average, analysts expect that PTC Therapeutics will post ($4.95) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Bellevue Group AG purchased a new stake in PTC Therapeutics during the first quarter valued at about $225,000. A.R.T. Advisors LLC purchased a new stake in PTC Therapeutics during the first quarter valued at about $1,412,000. Sphera Funds Management LTD. increased its stake in PTC Therapeutics by 278.7% in the first quarter. Sphera Funds Management LTD. now owns 250,000 shares of the biopharmaceutical company’s stock valued at $1,610,000 after buying an additional 183,980 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in PTC Therapeutics during the first quarter valued at about $1,610,000. Finally, Wellington Management Group LLP increased its stake in PTC Therapeutics by 48.4% in the first quarter. Wellington Management Group LLP now owns 4,699,733 shares of the biopharmaceutical company’s stock valued at $30,267,000 after buying an additional 1,532,712 shares in the last quarter. Hedge funds and other institutional investors own 83.32% 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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