Cowen and Company Reiterates “Hold” Rating for PTC Therapeutics, Inc. (PTCT)

PTC Therapeutics, Inc. (NASDAQ:PTCT)‘s stock had its “hold” rating reiterated by Cowen and Company in a report released on Wednesday, October 25th.

The analysts wrote, “Yesterday Clearside announced the completion of enrollment in the TYBEE study in.””

Several other analysts have also recently issued reports on PTCT. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $21.00 price objective (up previously from $15.00) on shares of PTC Therapeutics in a research note on Friday, June 30th. Zacks Investment Research raised shares of PTC Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $17.00 price objective (down previously from $28.00) on shares of PTC Therapeutics in a research note on Thursday, July 20th. BidaskClub cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Finally, William Blair assumed coverage on shares of PTC Therapeutics in a report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.75.

Shares of PTC Therapeutics (NASDAQ PTCT) traded up $0.20 during midday trading on Wednesday, reaching $16.05. 744,600 shares of the company traded hands, compared to its average volume of 1,216,178. PTC Therapeutics has a one year low of $8.12 and a one year high of $22.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.08 and a quick ratio of 2.97.

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Hedge funds have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in shares of PTC Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after acquiring an additional 48,308 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of PTC Therapeutics by 5.6% in the 2nd quarter. Alps Advisors Inc. now owns 31,191 shares of the biopharmaceutical company’s stock worth $572,000 after acquiring an additional 1,667 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of PTC Therapeutics by 75.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock worth $781,000 after acquiring an additional 18,273 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of PTC Therapeutics by 56.3% in the 2nd quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 18,249 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of PTC Therapeutics by 28.7% in the 2nd quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 11,300 shares during the last quarter. Hedge funds and other institutional investors own 79.04% of the company’s stock.

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.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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