PTC Therapeutics, Inc. (PTCT) Shares Down 1.5%
Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) traded down 1.5% during trading on Wednesday . The company traded as low as $17.96 and last traded at $18.90. 1,117,506 shares traded hands during trading, an increase of 15% from the average session volume of 968,119 shares. The stock had previously closed at $18.62.
A number of analysts recently commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating on shares of PTC Therapeutics in a research report on Friday, September 29th. Barclays PLC dropped their price objective on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 29th. Citigroup Inc. reissued a “buy” rating and issued a $28.00 price target on shares of PTC Therapeutics in a research note on Wednesday, September 27th. Credit Suisse Group reissued an “outperform” rating and issued a $25.00 price target on shares of PTC Therapeutics in a research note on Tuesday, September 26th. Finally, J P Morgan Chase & Co reissued a “neutral” rating on shares of PTC Therapeutics in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.78.
The stock has a 50 day moving average price of $19.45 and a 200 day moving average price of $16.00. The firm’s market cap is $780.65 million.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.89) by $0.45. The firm had revenue of $47.96 million for the quarter, compared to analyst estimates of $28.78 million. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. PTC Therapeutics’s quarterly revenue was up 206.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.14) earnings per share. On average, equities research analysts predict that PTC Therapeutics, Inc. will post ($2.34) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Alps Advisors Inc. raised its position in PTC Therapeutics by 5.6% during the second quarter. Alps Advisors Inc. now owns 31,191 shares of the biopharmaceutical company’s stock valued at $572,000 after buying an additional 1,667 shares during the period. Oppenheimer & Co. Inc. raised its position in PTC Therapeutics by 75.1% during the second quarter. Oppenheimer & Co. Inc. now owns 42,593 shares of the biopharmaceutical company’s stock valued at $781,000 after buying an additional 18,273 shares during the period. American International Group Inc. raised its position in PTC Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 1,355 shares during the period. AXA acquired a new position in PTC Therapeutics during the first quarter valued at $103,000. Finally, Camber Capital Management LLC acquired a new position in PTC Therapeutics during the first quarter valued at $12,300,000. 81.30% 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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