PTC Therapeutics, Inc. (PTCT) Given Average Recommendation of “Hold” by Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received a consensus rating of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.14.

A number of brokerages recently issued reports on PTCT. ValuEngine downgraded PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. Barclays reiterated a “hold” rating and set a $22.00 price objective on shares of PTC Therapeutics in a research note on Friday, September 8th. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, August 30th. J P Morgan Chase & Co downgraded PTC Therapeutics from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $23.00 to $15.00 in a research note on Monday, October 9th. Finally, Citigroup reiterated a “buy” rating and set a $28.00 price objective on shares of PTC Therapeutics in a research note on Wednesday, September 27th.

Hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. bought a new position in PTC Therapeutics in the 3rd quarter worth approximately $102,000. Nisa Investment Advisors LLC bought a new position in PTC Therapeutics in the 2nd quarter worth approximately $125,000. Public Employees Retirement System of Ohio bought a new position in PTC Therapeutics in the 2nd quarter worth approximately $142,000. Quantbot Technologies LP bought a new position in PTC Therapeutics in the 3rd quarter worth approximately $150,000. Finally, Prudential Financial Inc. bought a new position in PTC Therapeutics in the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

Shares of PTC Therapeutics (PTCT) traded up $0.18 during trading hours on Monday, hitting $16.13. The company had a trading volume of 2,208,346 shares, compared to its average volume of 705,887. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98. PTC Therapeutics has a 52 week low of $8.12 and a 52 week high of $22.00.

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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.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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