PTC Therapeutics, Inc. (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, May 11th.
According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “
Several other research analysts have also issued reports on the stock. Credit Suisse Group reissued a “positive” rating and issued a $25.00 price target on shares of PTC Therapeutics in a research report on Monday, March 6th. They noted that the move was a valuation call. Royal Bank of Canada reissued a “sector perform” rating and issued a $13.00 price target on shares of PTC Therapeutics in a research report on Monday, March 6th. Barclays PLC reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of PTC Therapeutics in a report on Wednesday, March 22nd. Finally, Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Thursday, March 16th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and an average target price of $14.56.
PTC Therapeutics (NASDAQ PTCT) opened at 16.99 on Thursday. PTC Therapeutics has a 12-month low of $4.03 and a 12-month high of $17.18. The stock’s 50 day moving average price is $13.60 and its 200 day moving average price is $12.28. The company’s market capitalization is $583.03 million.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $26.50 million during the quarter, compared to analyst estimates of $27.93 million. During the same quarter in the prior year, the business posted ($1.22) earnings per share. The company’s quarterly revenue was up 40.2% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Therapeutics will post ($3.55) earnings per share for the current fiscal year.
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In other news, Director Dawn Svoronos acquired 25,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was bought at an average price of $13.49 per share, with a total value of $337,250.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $337,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PTCT. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,020,039 shares of the biopharmaceutical company’s stock valued at $19,877,000 after buying an additional 101,331 shares during the period. State Street Corp boosted its stake in PTC Therapeutics by 219.1% in the first quarter. State Street Corp now owns 1,896,674 shares of the biopharmaceutical company’s stock valued at $18,668,000 after buying an additional 1,302,278 shares during the period. Boxer Capital LLC bought a new stake in PTC Therapeutics during the first quarter valued at approximately $14,760,000. Frontier Capital Management Co. LLC boosted its stake in PTC Therapeutics by 16.7% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,369,737 shares of the biopharmaceutical company’s stock valued at $14,944,000 after buying an additional 196,359 shares during the period. Finally, Camber Capital Management LLC bought a new stake in PTC Therapeutics during the first quarter valued at approximately $12,300,000. 76.78% of the stock is currently owned by institutional investors and hedge funds.
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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