Bank of America Corp. reaffirmed their hold rating on shares of PTC Therapeutics Inc. (NASDAQ:PTCT) in a research report report published on Monday morning. They currently have a $15.00 target price on the biopharmaceutical company’s stock.
Several other brokerages have also recently issued reports on PTCT. Wedbush decreased their price target on shares of PTC Therapeutics from $12.00 to $10.00 and set a neutral rating for the company in a research report on Tuesday, July 26th. Credit Suisse Group AG cut shares of PTC Therapeutics from an outperform rating to a neutral rating in a research report on Tuesday, July 26th. Cowen and Company restated a hold rating on shares of PTC Therapeutics in a research report on Sunday, August 7th. Zacks Investment Research upgraded shares of PTC Therapeutics from a sell rating to a hold rating in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PTC Therapeutics from $18.00 to $17.00 and set a neutral rating for the company in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $33.12.
Shares of PTC Therapeutics (NASDAQ:PTCT) opened at 13.71 on Monday. PTC Therapeutics has a 12-month low of $5.27 and a 12-month high of $35.76. The firm’s 50-day moving average is $9.58 and its 200-day moving average is $7.75. The firm’s market cap is $467.28 million.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.27) by $0.13. The business earned $15.40 million during the quarter, compared to the consensus estimate of $15.24 million. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The firm’s revenue was up 150.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.14) EPS. Analysts predict that PTC Therapeutics will post ($4.95) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Barclays PLC raised its position in PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 238 shares during the period. State Board of Administration of Florida Retirement System raised its position in PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 436 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in PTC Therapeutics during the second quarter worth $158,000. Bank of Montreal Can acquired a new position in PTC Therapeutics during the second quarter worth $190,000. Finally, Eagle Global Advisors LLC acquired a new position in PTC Therapeutics during the second quarter worth $203,000. Institutional investors and hedge funds own 83.32% of the company’s stock.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.
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