Zacks Investment Research upgraded shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) from a sell rating to a hold rating in a research report report published on Tuesday morning.
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. “
PTCT has been the subject of a number of other research reports. Cowen and Company reissued a hold rating on shares of PTC Therapeutics in a research report on Wednesday, October 25th. Citigroup Inc reissued a buy rating and set a $28.00 price objective on shares of PTC Therapeutics in a research report on Wednesday, September 27th. ValuEngine cut PTC Therapeutics from a hold rating to a sell rating in a research report on Thursday, September 7th. Barclays PLC reissued a hold rating and set a $22.00 price objective on shares of PTC Therapeutics in a research report on Friday, September 8th. Finally, Bank of America Corporation cut PTC Therapeutics from a neutral rating to an underperform rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.44.
PTC Therapeutics (PTCT) traded down $0.41 during midday trading on Tuesday, reaching $17.44. The company’s stock had a trading volume of 1,250,000 shares, compared to its average volume of 1,750,000. PTC Therapeutics has a one year low of $4.19 and a one year high of $22.00. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.24 and a current ratio of 3.34.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.45. The firm had revenue of $47.96 million during the quarter, compared to analysts’ expectations of $28.78 million. PTC Therapeutics had a negative return on equity of 77.47% and a negative net margin of 75.64%. The business’s revenue for the quarter was up 206.9% on a year-over-year basis. During the same quarter last year, the firm earned ($1.14) earnings per share. analysts anticipate that PTC Therapeutics will post -2.49 earnings per share for the current fiscal year.
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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 PTC Therapeutics during the second quarter valued at about $142,000. Nisa Investment Advisors LLC bought a new position in shares of PTC Therapeutics in the second quarter worth about $125,000. Prudential Financial Inc. bought a new position in shares of PTC Therapeutics in the second quarter worth about $201,000. Voya Investment Management LLC increased its stake 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 worth $302,000 after purchasing an additional 1,866 shares during the period. Finally, American International Group Inc. increased 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 worth $202,000 after purchasing an additional 1,355 shares during the period. Institutional investors own 81.64% of the company’s stock.
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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