PTC Therapeutics, Inc. (PTCT) Receives Hold Rating from Cowen and Company

Cowen and Company reaffirmed their hold rating on shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in a report released on Wednesday morning.

“Yesterday Clearside announced the completion of enrollment in the TYBEE study in.”,” the firm’s analyst commented.

Several other equities analysts have also recently issued reports on PTCT. BidaskClub cut shares of PTC Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 17th. Barclays PLC reduced their price target on shares of PTC Therapeutics from $22.00 to $15.00 and set an equal weight rating on the stock in a research report on Friday, September 29th. William Blair assumed coverage on shares of PTC Therapeutics in a research report on Wednesday, August 23rd. They set a market perform rating and a $17.00 price target on the stock. Royal Bank Of Canada reiterated a sector perform rating on shares of PTC Therapeutics in a research report on Friday, September 29th. Finally, Zacks Investment Research upgraded shares of PTC Therapeutics from a hold rating to a buy rating and set a $23.00 price target on the stock in a research report on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $17.44.

PTC Therapeutics (PTCT) traded down 8.064% during trading on Wednesday, hitting $15.905. 1,970,511 shares of the stock were exchanged. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $22.00. The stock’s market cap is $658.29 million. The stock has a 50 day moving average of $18.93 and a 200-day moving average of $16.98.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.45. PTC Therapeutics had a negative net margin of 88.43% and a negative return on equity of 81.84%. 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 previous year, the company earned ($1.14) earnings per share. PTC Therapeutics’s quarterly revenue was up 206.9% on a year-over-year basis. Equities analysts expect that PTC Therapeutics will post ($2.35) EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of PTCT. Bank of New York Mellon Corp boosted its stake in PTC Therapeutics by 12.4% during the first quarter. Bank of New York Mellon Corp now owns 182,048 shares of the biopharmaceutical company’s stock worth $1,792,000 after acquiring an additional 20,123 shares in the last quarter. American International Group Inc. boosted its stake 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 worth $202,000 after acquiring an additional 1,355 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in PTC Therapeutics by 3.0% during the first quarter. TIAA CREF Investment Management LLC now owns 96,318 shares of the biopharmaceutical company’s stock worth $948,000 after acquiring an additional 2,774 shares in the last quarter. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 5.3% during the first quarter. Vanguard Group Inc. now owns 2,020,039 shares of the biopharmaceutical company’s stock worth $19,877,000 after acquiring an additional 101,331 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in PTC Therapeutics by 4.2% during the first quarter. Geode Capital Management LLC now owns 270,264 shares of the biopharmaceutical company’s stock worth $2,659,000 after acquiring an additional 10,958 shares in the last quarter. 81.64% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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