Barclays PLC Reiterates Hold Rating for PTC Therapeutics, Inc. (PTCT)
PTC Therapeutics, Inc. (NASDAQ:PTCT)‘s stock had its “hold” rating reissued by research analysts at Barclays PLC in a research note issued on Friday. They currently have a $22.00 price objective on the biopharmaceutical company’s stock. Barclays PLC’s price objective points to a potential upside of 7.26% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. ValuEngine downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Wednesday, August 30th. William Blair assumed coverage on PTC Therapeutics in a research report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 target price for the company. BidaskClub downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Citigroup Inc. restated a “buy” rating and issued a $17.00 target price (down from $28.00) on shares of PTC Therapeutics in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $17.10.
PTC Therapeutics (NASDAQ:PTCT) traded down 1.25% during trading on Friday, reaching $20.51. The company had a trading volume of 803,047 shares. The firm’s market capitalization is $847.15 million. PTC Therapeutics has a 52-week low of $4.03 and a 52-week high of $22.00. The company has a 50-day moving average of $19.69 and a 200-day moving average of $14.95.
PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.45. The firm had revenue of $47.96 million during the quarter, compared to the consensus estimate of $28.78 million. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. The firm’s revenue for the quarter was up 206.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.14) earnings per share. Analysts expect that PTC Therapeutics will post ($2.35) EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in shares of PTC Therapeutics in the second quarter valued at $142,000. Nomura Holdings Inc. increased its holdings in shares of PTC Therapeutics by 28.7% in the second quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock valued at $928,000 after buying an additional 11,300 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of PTC Therapeutics by 12.8% in the second quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock valued at $302,000 after buying an additional 1,866 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PTC Therapeutics by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 528,586 shares of the biopharmaceutical company’s stock valued at $9,689,000 after buying an additional 5,960 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new position in shares of PTC Therapeutics in the second quarter valued at $455,000. 81.36% of the stock is currently owned by institutional investors.
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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