J P Morgan Chase & Co restated their neutral rating on shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in a research report released on Tuesday morning.

Several other brokerages have also recently commented on PTCT. Citigroup Inc. restated a buy rating and issued a $17.00 target price (down from $28.00) on shares of PTC Therapeutics in a research report on Thursday, July 20th. Barclays PLC restated a hold rating and issued a $22.00 target price on shares of PTC Therapeutics in a research report on Friday, September 8th. Zacks Investment Research cut shares of PTC Therapeutics from a hold rating to a sell rating in a research report on Saturday, July 1st. BidaskClub cut shares of PTC Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 17th. Finally, William Blair initiated coverage on shares of PTC Therapeutics in a research report on Wednesday, August 23rd. They issued a market perform rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $17.50.

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

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

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Hedge funds have recently added to or reduced their stakes in the stock. AXA acquired a new position in PTC Therapeutics during the 1st quarter worth approximately $103,000. Nisa Investment Advisors LLC acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $125,000. Public Employees Retirement System of Ohio acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $142,000. Virginia Retirement Systems ET AL acquired a new position in PTC Therapeutics during the 1st quarter worth approximately $187,000. Finally, Prudential Financial Inc. acquired a new position in PTC Therapeutics during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 81.30% 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.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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