Research analysts at Royal Bank of Canada began coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report issued on Monday. The firm set a “hold” rating on the biopharmaceutical company’s stock.
A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered shares of PTC Therapeutics from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $23.00 to $15.00 in a research note on Monday, October 9th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Bank of America downgraded shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating in a report on Thursday, October 26th. Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Finally, ValuEngine downgraded shares of PTC Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, December 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. PTC Therapeutics has a consensus rating of “Hold” and a consensus price target of $19.14.
Shares of PTC Therapeutics (PTCT) opened at $24.66 on Monday. PTC Therapeutics has a one year low of $8.12 and a one year high of $25.19. The firm has a market cap of $1,023.13, a PE ratio of -8.53 and a beta of 1.23. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the transaction, the chief executive officer now directly owns 26,646 shares in the company, valued at $480,427.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 2,719 shares of company stock valued at $48,848 over the last quarter. 8.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in PTCT. Jennison Associates acquired a new position in shares of PTC Therapeutics during the third quarter valued at about $17,806,000. Janus Capital Management increased its holdings in shares of PTC Therapeutics by 7.3% during the third quarter. Janus Capital Management now owns 898,321 shares of the biopharmaceutical company’s stock valued at $23,985,000 after acquiring an additional 60,998 shares in the last quarter. Verde Servico Internacionais acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at about $4,378,000. Parametrica Management acquired a new position in shares of PTC Therapeutics during the fourth quarter valued at about $519,000. Finally, Middleton & Company increased its holdings in shares of PTC Therapeutics by 2.7% during the fourth quarter. Middleton & Company now owns 39,620 shares of the biopharmaceutical company’s stock valued at $1,284,000 after acquiring an additional 1,035 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “PTC Therapeutics (PTCT) Research Coverage Started at Royal Bank of Canada” was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2018/01/29/ptc-therapeutics-ptct-research-coverage-started-at-royal-bank-of-canada.html.
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.
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.