PTC Therapeutics (PTCT) Now Covered by Royal Bank of Canada
Royal Bank of Canada started coverage on shares of PTC Therapeutics (NASDAQ:PTCT) in a research report report published on Monday morning, Marketbeat.com reports. The firm issued a sector perform rating on the biopharmaceutical company’s stock.
PTCT has been the topic of a number of other reports. Cowen restated a hold rating on shares of PTC Therapeutics in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of PTC Therapeutics from a hold rating to a buy rating and set a $19.00 target price on the stock in a research report on Thursday, January 4th. Bank of America lowered shares of PTC Therapeutics from a neutral rating to an underperform rating in a research report on Thursday, October 26th. ValuEngine upgraded shares of PTC Therapeutics from a strong sell rating to a sell rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PTC Therapeutics to $15.00 and gave the company a neutral rating in a research report on Friday, November 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $19.57.
PTC Therapeutics (NASDAQ PTCT) opened at $26.29 on Monday. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1,090.00, a P/E ratio of -9.10 and a beta of 1.23. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $28.75.
In related news, CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction on Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares in the company, valued at approximately $480,427.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of PTCT. Schwab Charles Investment Management Inc. grew its position in PTC Therapeutics by 22.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 154,429 shares of the biopharmaceutical company’s stock valued at $2,831,000 after buying an additional 28,668 shares during the last quarter. Prudential Financial Inc. purchased a new position in PTC Therapeutics in the 2nd quarter valued at $201,000. Swiss National Bank grew its position in PTC Therapeutics by 13.0% in the 2nd quarter. Swiss National Bank now owns 56,565 shares of the biopharmaceutical company’s stock valued at $1,037,000 after buying an additional 6,500 shares during the last quarter. Teachers Advisors LLC grew its position in PTC Therapeutics by 5.2% in the 2nd quarter. Teachers Advisors LLC now owns 61,324 shares of the biopharmaceutical company’s stock valued at $1,124,000 after buying an additional 3,026 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in PTC Therapeutics by 8.9% in the 2nd quarter. ProShare Advisors LLC now owns 24,115 shares of the biopharmaceutical company’s stock valued at $442,000 after buying an additional 1,970 shares during the last quarter. Hedge funds and other institutional investors own 85.60% 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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