PTC Therapeutics Inc. (NASDAQ:PTCT)‘s stock had its “neutral” rating reissued by analysts at Wedbush in a research report issued on Tuesday. They currently have a $10.00 price target on the biopharmaceutical company’s stock. Wedbush’s price target would indicate a potential downside of 26.42% from the stock’s previous close.
A number of other equities research analysts have also weighed in on PTCT. Credit Suisse Group AG upped their target price on shares of PTC Therapeutics to $15.00 in a report on Tuesday. Zacks Investment Research lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 7th. JPMorgan Chase & Co. lowered their target price on shares of PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Jefferies Group restated a “hold” rating and issued a $7.00 target price on shares of PTC Therapeutics in a report on Thursday, September 22nd. Finally, Bank of America Corp. restated a “hold” rating and issued a $15.00 target price on shares of PTC Therapeutics in a report on Monday, October 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.82.
Shares of PTC Therapeutics (NASDAQ:PTCT) opened at 13.59 on Tuesday. PTC Therapeutics has a 1-year low of $5.27 and a 1-year high of $35.75. The firm’s market cap is $463.19 million. The firm has a 50 day moving average price of $10.05 and a 200 day moving average price of $7.93.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The company had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. During the same quarter in the prior year, the business posted ($1.14) EPS. The firm’s revenue was up 150.0% compared to the same quarter last year. Analysts anticipate that PTC Therapeutics will post ($4.95) EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in PTC Therapeutics by 48.4% in the first quarter. Wellington Management Group LLP now owns 4,699,733 shares of the biopharmaceutical company’s stock valued at $30,267,000 after buying an additional 1,532,712 shares during the period. Spark Investment Management LLC increased its position in PTC Therapeutics by 1,466.3% in the first quarter. Spark Investment Management LLC now owns 274,100 shares of the biopharmaceutical company’s stock valued at $1,765,000 after buying an additional 256,600 shares during the period. Bellevue Group AG acquired a new position in PTC Therapeutics during the first quarter valued at approximately $225,000. BlackRock Group LTD increased its position in PTC Therapeutics by 1,020.2% in the first quarter. BlackRock Group LTD now owns 213,768 shares of the biopharmaceutical company’s stock valued at $1,377,000 after buying an additional 194,685 shares during the period. Finally, BlackRock Inc. increased its position in PTC Therapeutics by 4,748.6% in the first quarter. BlackRock Inc. now owns 48,825 shares of the biopharmaceutical company’s stock valued at $315,000 after buying an additional 47,818 shares during the period. 83.32% of the stock is owned by hedge funds and other institutional investors.
About PTC Therapeutics
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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