PTC Therapeutics, Inc. (PTCT) Receives Average Recommendation of “Hold” from Analysts
PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average rating of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.25.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday. Citigroup Inc. reissued a “buy” rating and set a $17.00 price target (down from $28.00) on shares of PTC Therapeutics in a research report on Thursday, July 20th. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. J P Morgan Chase & Co reissued a “neutral” rating and set a $21.00 price target (up from $15.00) on shares of PTC Therapeutics in a research report on Friday, June 30th. Finally, Royal Bank Of Canada set a $12.00 price target on shares of PTC Therapeutics and gave the company a “hold” rating in a research report on Monday, May 8th.
In related news, Director Dawn Svoronos acquired 25,000 shares of the stock in a transaction on Tuesday, May 23rd. The shares were acquired at an average price of $13.49 per share, with a total value of $337,250.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $337,250. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of PTC Therapeutics during the fourth quarter valued at approximately $403,000. Teachers Advisors LLC raised its stake 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 valued at $3,004,000 after buying an additional 223,033 shares in the last quarter. American International Group Inc. raised its stake in shares of PTC Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 1,355 shares in the last quarter. AXA bought a new stake in shares of PTC Therapeutics during the first quarter valued at approximately $103,000. Finally, Camber Capital Management LLC bought a new stake in shares of PTC Therapeutics during the first quarter valued at approximately $12,300,000. 77.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of PTC Therapeutics (NASDAQ PTCT) traded down 4.07% during midday trading on Tuesday, hitting $19.10. 515,664 shares of the stock were exchanged. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $21.85. The firm’s 50 day moving average is $19.20 and its 200-day moving average is $13.94. The stock’s market capitalization is $655.44 million.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.03. PTC Therapeutics had a negative net margin of 143.80% and a negative return on equity of 98.77%. The company had revenue of $26.50 million for the quarter, compared to analyst estimates of $27.93 million. During the same period last year, the firm earned ($1.22) earnings per share. The firm’s revenue was up 40.2% on a year-over-year basis. On average, analysts predict that PTC Therapeutics will post ($3.52) EPS for the current year.
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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