Credit Suisse Group reiterated their buy rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a report published on Monday morning. They currently have a $55.00 target price on the biopharmaceutical company’s stock.
A number of other research firms have also recently weighed in on PTCT. Cantor Fitzgerald reissued a buy rating and issued a $61.00 price target on shares of PTC Therapeutics in a report on Monday. William Blair reissued a buy rating on shares of PTC Therapeutics in a report on Wednesday, October 3rd. ValuEngine cut PTC Therapeutics from a strong-buy rating to a buy rating in a report on Tuesday, November 6th. Barclays cut their price target on PTC Therapeutics from $43.00 to $40.00 and set an equal weight rating for the company in a report on Tuesday, November 6th. Finally, Bank of America raised PTC Therapeutics from an underperform rating to a neutral rating in a report on Wednesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $45.63.
PTCT traded down $1.11 during trading on Monday, reaching $36.85. 6,053 shares of the stock were exchanged, compared to its average volume of 692,897. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.61 and a current ratio of 2.73. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -18.29 and a beta of 2.04. PTC Therapeutics has a 1 year low of $20.21 and a 1 year high of $52.95.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.66). The firm had revenue of $53.59 million for the quarter, compared to analysts’ expectations of $70.56 million. PTC Therapeutics had a negative return on equity of 27.95% and a negative net margin of 30.61%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.82) earnings per share. On average, analysts predict that PTC Therapeutics will post -1.96 EPS for the current fiscal year.
In related news, CEO Stuart Walter Peltz sold 2,512 shares of the company’s stock in a transaction on Monday, January 7th. The stock was sold at an average price of $34.75, for a total value of $87,292.00. Following the completion of the transaction, the chief executive officer now directly owns 24,882 shares in the company, valued at $864,649.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 2,892 shares of company stock valued at $100,497 over the last quarter. Insiders own 7.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in PTC Therapeutics by 39.4% during the third quarter. Vanguard Group Inc. now owns 4,458,295 shares of the biopharmaceutical company’s stock worth $209,539,000 after acquiring an additional 1,261,166 shares during the last quarter. Vanguard Group Inc increased its stake in PTC Therapeutics by 39.4% during the third quarter. Vanguard Group Inc now owns 4,458,295 shares of the biopharmaceutical company’s stock worth $209,539,000 after acquiring an additional 1,261,166 shares during the last quarter. BlackRock Inc. increased its stake in PTC Therapeutics by 5.4% during the third quarter. BlackRock Inc. now owns 3,639,709 shares of the biopharmaceutical company’s stock worth $171,067,000 after acquiring an additional 187,548 shares during the last quarter. Franklin Resources Inc. acquired a new stake in PTC Therapeutics during the third quarter worth about $123,407,000. Finally, FMR LLC increased its stake in PTC Therapeutics by 16.8% during the second quarter. FMR LLC now owns 1,303,254 shares of the biopharmaceutical company’s stock worth $43,959,000 after acquiring an additional 187,900 shares during the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.
About PTC Therapeutics
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.
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