PTC Therapeutics (PTCT) Shares Up 7.3%

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price shot up 7.3% during mid-day trading on Monday . The company traded as high as $23.71 and last traded at $23.29. 1,302,000 shares traded hands during mid-day trading, a decline of 0% from the average session volume of 1,308,289 shares. The stock had previously closed at $21.71.

A number of brokerages have issued reports on PTCT. Zacks Investment Research cut PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Barclays lowered their target price on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, September 29th. JPMorgan Chase & Co. cut PTC Therapeutics from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $23.00 to $15.00 in a report on Monday, October 9th. Royal Bank of Canada set a $15.00 target price on PTC Therapeutics and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $25.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.14.

The stock has a market cap of $966.29, a P/E ratio of -8.06 and a beta of 1.23. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.01). PTC Therapeutics had a negative net margin of 75.64% and a negative return on equity of 75.19%. equities analysts predict that PTC Therapeutics, Inc. will post -2.01 EPS for the current year.

In other news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the sale, the chief executive officer now owns 26,646 shares of the company’s stock, valued at $480,427.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders sold 2,719 shares of company stock valued at $48,848. Insiders own 8.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in PTCT. Macquarie Group Ltd. bought a new stake in shares of PTC Therapeutics during the 3rd quarter valued at about $102,000. Public Employees Retirement System of Ohio bought a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $142,000. Quantbot Technologies LP bought a new stake in shares of PTC Therapeutics during the 3rd quarter valued at about $150,000. Prudential Financial Inc. bought a new stake in shares of PTC Therapeutics during the 2nd quarter valued at about $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of PTC Therapeutics during the 3rd quarter valued at about $229,000. Institutional investors own 86.12% of the company’s stock.

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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.

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