PTC Therapeutics (NASDAQ:PTCT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage presently has a $31.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 7.68% from the company’s previous close.
According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “
Several other analysts have also recently commented on PTCT. JPMorgan Chase & Co. raised shares of PTC Therapeutics from an “underweight” rating to a “neutral” rating and set a $15.00 price target on the stock in a research note on Thursday, November 16th. ValuEngine cut shares of PTC Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. Barclays reissued a “hold” rating on shares of PTC Therapeutics in a research note on Tuesday, January 23rd. Royal Bank of Canada initiated coverage on shares of PTC Therapeutics in a research note on Monday, January 29th. They set a “sector perform” rating on the stock. Finally, Credit Suisse Group reissued a “buy” rating and set a $28.00 price target on shares of PTC Therapeutics in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. PTC Therapeutics presently has an average rating of “Hold” and a consensus target price of $23.57.
Shares of PTC Therapeutics (PTCT) opened at $28.79 on Friday. PTC Therapeutics has a 52 week low of $8.12 and a 52 week high of $31.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.97 and a current ratio of 3.04. The company has a market cap of $1,190.00, a P/E ratio of -29.99 and a beta of 1.71.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Tuesday, March 6th. The biopharmaceutical company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.17. PTC Therapeutics had a negative net margin of 40.64% and a negative return on equity of 50.75%. The business had revenue of $78.00 million for the quarter, compared to analysts’ expectations of $78.59 million. During the same period in the prior year, the firm earned ($0.78) earnings per share. PTC Therapeutics’s revenue was up 209.5% compared to the same quarter last year. analysts anticipate that PTC Therapeutics will post -1.4 EPS for the current fiscal year.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $480,427.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 2,719 shares of company stock worth $48,848. Insiders own 8.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. bought a new position in PTC Therapeutics in the third quarter valued at approximately $102,000. Public Employees Retirement System of Ohio acquired a new stake in PTC Therapeutics in the second quarter worth $142,000. Quantbot Technologies LP acquired a new stake in PTC Therapeutics in the third quarter worth $150,000. MANA Advisors LLC acquired a new stake in PTC Therapeutics in the fourth quarter worth $221,000. Finally, Teacher Retirement System of Texas acquired a new stake in PTC Therapeutics in the fourth quarter worth $228,000. 91.87% of the stock is currently 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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