PTC Therapeutics, Inc. (NASDAQ:PTCT) Rating Reiterated by Citigroup Inc.
PTC Therapeutics, Inc. (NASDAQ:PTCT)‘s stock had its “buy” rating reaffirmed by investment analysts at Citigroup Inc. in a report issued on Thursday, The Fly reports. They presently have a $17.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $28.00. Citigroup Inc.’s target price suggests a potential downside of 12.51% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, May 3rd. Barclays PLC reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, March 22nd. Royal Bank Of Canada set a $12.00 price objective on shares of PTC Therapeutics and gave the stock a “hold” rating in a research note on Monday, May 8th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $21.00 price objective (up from $15.00) on shares of PTC Therapeutics in a research note on Friday, June 30th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.11.
Shares of PTC Therapeutics (PTCT) opened at 20.1112 on Thursday. The stock’s 50 day moving average price is $17.39 and its 200-day moving average price is $13.36. PTC Therapeutics has a 12-month low of $4.03 and a 12-month high of $20.23. The company’s market cap is $690.14 million.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.88) by $0.03. The business had revenue of $26.50 million for the quarter, compared to analysts’ expectations of $27.93 million. PTC Therapeutics had a negative net margin of 143.80% and a negative return on equity of 98.77%. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.22) earnings per share. On average, equities research analysts forecast that PTC Therapeutics will post ($3.51) earnings per share for the current year.
In other news, Director Dawn Svoronos acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average cost of $13.49 per share, with a total value of $337,250.00. Following the completion of the purchase, the director now owns 25,000 shares of the company’s stock, valued at $337,250. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of PTC Therapeutics during the fourth quarter worth about $403,000. Teachers Advisors LLC raised its position in shares of PTC Therapeutics by 426.1% in the fourth quarter. Teachers Advisors LLC now owns 275,371 shares of the biopharmaceutical company’s stock worth $3,004,000 after buying an additional 223,033 shares during the last quarter. Camber Capital Management LLC bought a new position in shares of PTC Therapeutics during the first quarter worth about $12,300,000. AXA bought a new position in shares of PTC Therapeutics during the first quarter worth about $103,000. Finally, Boxer Capital LLC bought a new position in shares of PTC Therapeutics during the first quarter worth about $14,760,000. Institutional investors own 76.50% of the company’s stock.
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.
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