PTC Therapeutics (NASDAQ:PTCT) Earns “Outperform” Rating from Royal Bank of Canada
Royal Bank of Canada reiterated their outperform rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a report issued on Thursday, The Fly reports. They currently have a $58.00 price objective on the biopharmaceutical company’s stock.
Other analysts have also issued research reports about the stock. Barclays reiterated a hold rating and set a $43.00 price target on shares of PTC Therapeutics in a research report on Monday, August 12th. ValuEngine downgraded shares of PTC Therapeutics from a buy rating to a hold rating in a research report on Wednesday, December 4th. Cowen restated a hold rating on shares of PTC Therapeutics in a research report on Wednesday, October 30th. Credit Suisse Group restated a buy rating and set a $54.00 target price on shares of PTC Therapeutics in a research note on Thursday, October 31st. Finally, William Blair reaffirmed a buy rating on shares of PTC Therapeutics in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. PTC Therapeutics presently has a consensus rating of Buy and an average price target of $54.78.
Shares of PTC Therapeutics stock opened at $49.20 on Thursday. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -26.74 and a beta of 1.90. The company has a quick ratio of 4.30, a current ratio of 4.40 and a debt-to-equity ratio of 0.44. PTC Therapeutics has a 12-month low of $27.53 and a 12-month high of $50.96. The firm’s 50-day moving average price is $42.36 and its two-hundred day moving average price is $42.01.
In other news, CEO Stuart Walter Peltz sold 22,463 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $49.43, for a total value of $1,110,346.09. 7.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio increased its holdings in shares of PTC Therapeutics by 7.3% during the second quarter. Strs Ohio now owns 14,700 shares of the biopharmaceutical company’s stock worth $661,000 after buying an additional 1,000 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in PTC Therapeutics in the 2nd quarter worth about $484,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in PTC Therapeutics in the 2nd quarter worth about $257,000. Fisher Asset Management LLC raised its position in PTC Therapeutics by 102.2% in the second quarter. Fisher Asset Management LLC now owns 267,728 shares of the biopharmaceutical company’s stock valued at $12,048,000 after purchasing an additional 135,289 shares during the last quarter. Finally, Dupont Capital Management Corp raised its position in PTC Therapeutics by 67.1% in the second quarter. Dupont Capital Management Corp now owns 19,617 shares of the biopharmaceutical company’s stock valued at $883,000 after purchasing an additional 7,876 shares during the last quarter. 99.35% of the stock is currently owned by hedge funds and other institutional investors.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.
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