PTC Therapeutics, Inc. (NASDAQ:PTCT) had its target price cut by Barclays PLC from $22.00 to $15.00 in a report published on Friday morning, Marketbeat Ratings reports. They currently have an equal weight rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on PTCT. Citigroup Inc. reiterated a buy rating and issued a $17.00 price target (down previously from $28.00) on shares of PTC Therapeutics in a research note on Thursday, July 20th. J P Morgan Chase & Co reissued a neutral rating and set a $21.00 price target (up previously from $15.00) on shares of PTC Therapeutics in a report on Friday, June 30th. Credit Suisse Group restated an outperform rating and set a $25.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, September 26th. Zacks Investment Research downgraded PTC Therapeutics from a hold rating to a sell rating in a research report on Saturday, July 1st. Finally, BidaskClub downgraded PTC Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $17.50.

Shares of PTC Therapeutics (NASDAQ PTCT) opened at 20.01 on Friday. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $22.00. The firm’s 50-day moving average is $19.53 and its 200 day moving average is $15.36. The company’s market capitalization is $826.49 million.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.45. PTC Therapeutics had a negative net margin of 88.43% and a negative return on equity of 81.84%. The business had revenue of $47.96 million during the quarter, compared to the consensus estimate of $28.78 million. During the same period in the previous year, the business earned ($1.14) earnings per share. The company’s revenue was up 206.9% on a year-over-year basis. On average, analysts anticipate that PTC Therapeutics will post ($2.10) earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in PTC Therapeutics during the 2nd quarter worth approximately $142,000. Nisa Investment Advisors LLC acquired a new position in PTC Therapeutics in the 2nd quarter valued at approximately $125,000. AXA acquired a new position in PTC Therapeutics in the 1st quarter valued at approximately $103,000. Prudential Financial Inc. acquired a new position in PTC Therapeutics in the 2nd quarter valued at approximately $201,000. Finally, Voya Investment Management LLC increased its position in PTC Therapeutics by 12.8% in the 2nd quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock valued at $302,000 after acquiring an additional 1,866 shares during the period. Institutional investors and hedge funds own 81.30% 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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