Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given a consensus rating of “Hold” by the eleven brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.75.
Several equities research analysts have commented on the stock. Citigroup boosted their price target on shares of PTC Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday. Credit Suisse Group reissued a “buy” rating and set a $28.00 price target on shares of PTC Therapeutics in a research report on Tuesday, January 30th. Royal Bank of Canada assumed coverage on shares of PTC Therapeutics in a research report on Monday, January 29th. They set a “sector perform” rating on the stock. Barclays reissued a “hold” rating on shares of PTC Therapeutics in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th.
Shares of PTC Therapeutics (NASDAQ PTCT) traded down $0.14 during trading hours on Friday, reaching $25.52. 573,229 shares of the company’s stock traded hands, compared to its average volume of 993,032. The company has a quick ratio of 2.97, a current ratio of 3.08 and a debt-to-equity ratio of 0.98. PTC Therapeutics has a 52-week low of $8.12 and a 52-week high of $28.75. The company has a market cap of $1,050.00, a PE ratio of -8.83 and a beta of 1.73.
In other news, CEO Stuart Walter Peltz sold 2,230 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the sale, the chief executive officer now directly owns 26,646 shares of the company’s stock, valued at approximately $480,427.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Northern Trust Corp raised its holdings in shares of PTC Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock valued at $11,275,000 after purchasing an additional 48,308 shares during the period. New York State Common Retirement Fund raised its holdings in shares of PTC Therapeutics by 56.3% in the 2nd quarter. New York State Common Retirement Fund now owns 50,650 shares of the biopharmaceutical company’s stock valued at $928,000 after purchasing an additional 18,249 shares during the period. Vanguard Group Inc. raised its holdings in shares of PTC Therapeutics by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after purchasing an additional 346,525 shares during the period. Swiss National Bank raised its holdings in shares of PTC Therapeutics by 15.9% in the 3rd quarter. Swiss National Bank now owns 65,565 shares of the biopharmaceutical company’s stock valued at $1,312,000 after purchasing an additional 9,000 shares during the period. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of PTC Therapeutics by 31.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 52,779 shares of the biopharmaceutical company’s stock valued at $967,000 after purchasing an additional 12,563 shares during the period. 84.94% of the stock is currently owned by institutional investors.
ILLEGAL ACTIVITY WARNING: “PTC Therapeutics, Inc. (PTCT) Receives Average Rating of “Hold” from Analysts” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/24/ptc-therapeutics-inc-ptct-receives-average-rating-of-hold-from-analysts.html.
About PTC Therapeutics
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.
Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.