Barclays reissued their equal weight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report report published on Wednesday, March 7th. Barclays currently has a $24.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $18.00.
Several other research analysts also recently commented on PTCT. Credit Suisse Group reissued a buy rating and set a $28.00 target price on shares of PTC Therapeutics in a research note on Tuesday, January 30th. William Blair reissued a hold rating on shares of PTC Therapeutics in a research note on Wednesday, March 7th. Citigroup boosted their target price on PTC Therapeutics from $24.00 to $35.00 and gave the stock a buy rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised PTC Therapeutics from an underweight rating to a neutral rating and set a $15.00 price objective for the company in a research note on Thursday, November 16th. Finally, Zacks Investment Research downgraded PTC Therapeutics from a buy rating to a hold rating in a research note on Saturday, January 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. PTC Therapeutics presently has an average rating of Hold and an average target price of $23.57.
PTC Therapeutics (PTCT) traded up $0.51 during mid-day trading on Wednesday, reaching $30.40. 854,209 shares of the company’s stock were exchanged, compared to its average volume of 988,451. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.90 and a current ratio of 3.04. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $31.25. The company has a market capitalization of $1,197.80, a PE ratio of -14.54 and a beta of 1.71.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Tuesday, March 6th. The biopharmaceutical company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.17. The firm had revenue of $78.00 million during the quarter, compared to analysts’ expectations of $78.59 million. PTC Therapeutics had a negative net margin of 40.64% and a negative return on equity of 50.75%. The company’s revenue for the quarter was up 209.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.78) earnings per share. research analysts expect that PTC Therapeutics will post -1.4 EPS for the current fiscal year.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $18.03, for a total transaction of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares in the company, valued at approximately $480,427.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 2,719 shares of company stock worth $48,848 over the last quarter. 8.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. RTW Investments LP boosted its holdings in shares of PTC Therapeutics by 18.2% during the 4th quarter. RTW Investments LP now owns 4,130,115 shares of the biopharmaceutical company’s stock worth $68,890,000 after buying an additional 634,972 shares in the last quarter. Spark Investment Management LLC boosted its holdings in shares of PTC Therapeutics by 44.7% during the 4th quarter. Spark Investment Management LLC now owns 1,037,200 shares of the biopharmaceutical company’s stock worth $17,300,000 after buying an additional 320,200 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of PTC Therapeutics by 182.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 796,518 shares of the biopharmaceutical company’s stock worth $13,286,000 after purchasing an additional 514,068 shares during the period. J. Goldman & Co LP raised its position in shares of PTC Therapeutics by 3,516.8% during the fourth quarter. J. Goldman & Co LP now owns 653,284 shares of the biopharmaceutical company’s stock worth $10,897,000 after purchasing an additional 672,404 shares during the period. Finally, Millennium Management LLC raised its position in shares of PTC Therapeutics by 113.0% during the fourth quarter. Millennium Management LLC now owns 555,205 shares of the biopharmaceutical company’s stock worth $9,261,000 after purchasing an additional 294,572 shares during the period. Hedge funds and other institutional investors own 91.87% 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.
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.