Citigroup Inc. Reaffirms Buy Rating for PTC Therapeutics, Inc. (PTCT)
Citigroup Inc. reiterated their buy rating on shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in a research note issued to investors on Wednesday. Citigroup Inc. currently has a $28.00 price target on the biopharmaceutical company’s stock.
Several other research analysts have also recently issued reports on PTCT. J P Morgan Chase & Co reissued a neutral rating and issued 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 lowered PTC Therapeutics from a hold rating to a sell rating in a report on Saturday, July 1st. BidaskClub lowered PTC Therapeutics from a strong-buy rating to a buy rating in a report on Friday, August 4th. William Blair began coverage on PTC Therapeutics in a report on Wednesday, August 23rd. They set a market perform rating and a $17.00 target price for the company. Finally, ValuEngine lowered PTC Therapeutics from a hold rating to a sell rating in a report on Thursday, September 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $17.50.
PTC Therapeutics (NASDAQ PTCT) opened at 20.01 on Wednesday. The firm’s 50-day moving average price is $19.53 and its 200-day moving average price is $15.36. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $22.00. The stock’s market cap is $826.49 million.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.45. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. The company had revenue of $47.96 million for the quarter, compared to analysts’ expectations of $28.78 million. During the same quarter in the prior year, the firm earned ($1.14) earnings per share. PTC Therapeutics’s revenue was up 206.9% compared to the same quarter last year. Equities analysts predict that PTC Therapeutics will post ($2.10) earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of PTC Therapeutics by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after purchasing an additional 346,525 shares during the last quarter. State Street Corp lifted its holdings in shares of PTC Therapeutics by 219.1% during the 1st quarter. State Street Corp now owns 1,896,674 shares of the biopharmaceutical company’s stock valued at $18,668,000 after purchasing an additional 1,302,278 shares during the last quarter. Boxer Capital LLC purchased a new stake in shares of PTC Therapeutics during the 1st quarter valued at $14,760,000. Camber Capital Management LLC purchased a new stake in shares of PTC Therapeutics during the 1st quarter valued at $12,300,000. Finally, FMR LLC lifted its holdings in shares of PTC Therapeutics by 4.1% during the 2nd quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock valued at $12,904,000 after purchasing an additional 27,500 shares during the last quarter. Hedge funds and other institutional investors 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.
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