PTC Therapeutics, Inc. (PTCT) Given a $15.00 Price Target at Royal Bank Of Canada
PTC Therapeutics, Inc. (NASDAQ:PTCT) received a $15.00 target price from stock analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price points to a potential downside of 13.29% from the company’s current price.
A number of other equities analysts have also weighed in on PTCT. Zacks Investment Research lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. William Blair started coverage on shares of PTC Therapeutics in a research note on Wednesday, August 23rd. They set a “market perform” rating and a $17.00 target price for the company. BidaskClub lowered shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co lowered shares of PTC Therapeutics from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $23.00 to $15.00 in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. PTC Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $17.44.
Shares of PTC Therapeutics (PTCT) opened at 17.30 on Wednesday. PTC Therapeutics has a 52-week low of $4.03 and a 52-week high of $22.00. The company’s market cap is $716.03 million. The firm has a 50 day moving average price of $18.93 and a 200-day moving average price of $16.98.
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A number of hedge funds have recently modified their holdings of PTCT. Public Employees Retirement System of Ohio purchased a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $142,000. Nisa Investment Advisors LLC acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $125,000. Prudential Financial Inc. acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $201,000. Voya Investment Management LLC grew its holdings in PTC Therapeutics by 12.8% during the 2nd quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock worth $302,000 after acquiring an additional 1,866 shares in the last quarter. Finally, American International Group Inc. grew its holdings in PTC Therapeutics by 7.1% during the 1st quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock worth $202,000 after acquiring an additional 1,355 shares in the last quarter. 81.64% 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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