PTC Therapeutics, Inc. (PTCT) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

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 analysts have also issued reports on PTCT. J P Morgan Chase & Co reiterated a neutral rating and set a $21.00 price target (up previously from $15.00) on shares of PTC Therapeutics in a research report on Friday, June 30th. Citigroup Inc. set a $18.00 price target on shares of PTC Therapeutics and gave the stock a buy rating in a research report on Wednesday, June 7th. Royal Bank Of Canada reduced their price target on shares of PTC Therapeutics from $13.00 to $10.00 and set a sector perform rating on the stock in a research report on Thursday, March 16th. Cowen and Company reiterated a hold rating on shares of PTC Therapeutics in a research report on Thursday, March 16th. Finally, Barclays PLC reiterated an equal weight rating and set a $13.00 price target on shares of PTC Therapeutics in a research report on Wednesday, March 22nd. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.22.

PTC Therapeutics (NASDAQ PTCT) opened at 19.39 on Tuesday. The stock has a 50 day moving average price of $15.11 and a 200 day moving average price of $12.67. The firm’s market capitalization is $665.39 million. PTC Therapeutics has a one year low of $4.03 and a one year high of $19.99.

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. The business had revenue of $26.50 million for the quarter, compared to analyst estimates of $27.93 million. PTC Therapeutics had a negative net margin of 143.80% and a negative return on equity of 98.77%. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.22) EPS. On average, equities analysts predict that PTC Therapeutics will post ($3.51) EPS for the current fiscal year.

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In related news, Director Dawn Svoronos bought 25,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average price of $13.49 per share, for a total transaction of $337,250.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $337,250. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 8.10% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of PTC Therapeutics during the fourth quarter worth $403,000. FMR LLC raised its stake in shares of PTC Therapeutics by 192.2% in the fourth quarter. FMR LLC now owns 732,044 shares of the biopharmaceutical company’s stock worth $7,987,000 after buying an additional 481,556 shares in the last quarter. First Republic Investment Management Inc. raised its stake in shares of PTC Therapeutics by 24.8% in the fourth quarter. First Republic Investment Management Inc. now owns 16,001 shares of the biopharmaceutical company’s stock worth $175,000 after buying an additional 3,184 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of PTC Therapeutics by 17.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 23,530 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 3,493 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of PTC Therapeutics by 426.1% in the fourth quarter. Teachers Advisors LLC now owns 275,371 shares of the biopharmaceutical company’s stock worth $3,004,000 after buying an additional 223,033 shares in the last quarter. Hedge funds and other institutional investors own 76.50% 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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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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