PTC Therapeutics (NASDAQ:PTCT)‘s stock had its “buy” rating restated by research analysts at Credit Suisse Group in a research note issued to investors on Tuesday, January 30th. They presently have a $28.00 price objective on the biopharmaceutical company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 15.46% from the company’s previous close.
Several other equities analysts also recently weighed in on PTCT. JPMorgan Chase & Co. downgraded PTC Therapeutics from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $23.00 to $15.00 in a research report on Monday, October 9th. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Royal Bank of Canada set a $15.00 price objective on PTC Therapeutics and gave the company a “hold” rating in a research report on Wednesday, October 25th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, October 25th. Finally, Bank of America downgraded PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.57.
PTC Therapeutics (PTCT) opened at $24.25 on Tuesday. 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 firm has a market capitalization of $1,010.00, a price-to-earnings ratio of -8.39 and a beta of 1.73. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $28.75.
In other news, CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction on Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the sale, the chief executive officer now owns 26,646 shares of the company’s stock, valued at $480,427.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 2,719 shares of company stock valued at $48,848. Company insiders own 8.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PTCT. RTW Investments LP grew its position in PTC Therapeutics by 18.2% during the fourth quarter. RTW Investments LP now owns 4,130,115 shares of the biopharmaceutical company’s stock valued at $68,890,000 after acquiring an additional 634,972 shares during the period. Goldman Sachs Group Inc. grew its position in PTC Therapeutics by 182.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 796,518 shares of the biopharmaceutical company’s stock valued at $13,286,000 after acquiring an additional 514,068 shares during the period. Point72 Asset Management L.P. grew its position in PTC Therapeutics by 1,587.8% during the third quarter. Point72 Asset Management L.P. now owns 400,000 shares of the biopharmaceutical company’s stock valued at $8,004,000 after acquiring an additional 376,300 shares during the period. Vanguard Group Inc. grew its position in PTC Therapeutics by 17.2% during the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after acquiring an additional 346,525 shares during the period. Finally, Spark Investment Management LLC grew its position in PTC Therapeutics by 44.7% during the fourth quarter. Spark Investment Management LLC now owns 1,037,200 shares of the biopharmaceutical company’s stock valued at $17,300,000 after acquiring an additional 320,200 shares during the period. 85.21% of the stock is owned by hedge funds and other institutional investors.
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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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