PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a $15.00 price target by equities research analysts at Royal Bank Of Canada in a research note issued on Wednesday, October 25th. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would indicate a potential downside of 6.54% from the stock’s previous close.
Several other analysts also recently weighed in on PTCT. BidaskClub downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Barclays PLC cut their price target on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Friday, September 29th. William Blair began coverage on PTC Therapeutics in a research note on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 price target on the stock. Zacks Investment Research raised PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, August 30th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $18.75.
PTC Therapeutics (PTCT) traded up $0.20 during trading on Wednesday, hitting $16.05. The company had a trading volume of 744,600 shares, compared to its average volume of 1,216,178. 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 has a 52 week low of $8.12 and a 52 week high of $22.00.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in shares of PTC Therapeutics by 28.6% during the 3rd quarter. American International Group Inc. now owns 26,587 shares of the biopharmaceutical company’s stock valued at $532,000 after buying an additional 5,905 shares during the period. Macquarie Group Ltd. bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at $102,000. 361 Capital LLC bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at $1,793,000. SG Americas Securities LLC bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at $834,000. Finally, Quantbot Technologies LP bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at $150,000. 79.04% of the stock is currently owned by hedge funds and other institutional investors.
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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