Brokerages Set PTC Therapeutics (PTCT) Target Price at $26.00

PTC Therapeutics (NASDAQ:PTCT) has earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

Several equities analysts recently weighed in on the stock. ValuEngine upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. William Blair reiterated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, May 10th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Barclays reiterated an “equal weight” rating and issued a $24.00 price target (up previously from $18.00) on shares of PTC Therapeutics in a report on Wednesday, March 7th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $28.00 price target on shares of PTC Therapeutics in a report on Tuesday, January 30th.

PTC Therapeutics traded up $0.47, hitting $31.54, during midday trading on Thursday, MarketBeat reports. The company’s stock had a trading volume of 615,331 shares, compared to its average volume of 979,436. PTC Therapeutics has a fifty-two week low of $29.82 and a fifty-two week high of $31.31. The company has a current ratio of 3.33, a quick ratio of 3.16 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.39 billion, a PE ratio of -15.61 and a beta of 1.66.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.03). PTC Therapeutics had a negative return on equity of 40.42% and a negative net margin of 30.91%. The business had revenue of $56.10 million during the quarter, compared to analyst estimates of $63.46 million. During the same quarter last year, the company posted ($0.85) EPS. PTC Therapeutics’s quarterly revenue was up 111.7% compared to the same quarter last year. equities research analysts predict that PTC Therapeutics will post -1.55 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Seven Eight Capital LP acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth approximately $216,000. Chubb Ltd acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth approximately $221,000. Bayesian Capital Management LP acquired a new stake in shares of PTC Therapeutics during the 1st quarter worth approximately $353,000. MANA Advisors LLC acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth approximately $221,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of PTC Therapeutics during the 4th quarter worth approximately $228,000. 83.52% of the stock is currently owned by institutional investors and hedge funds.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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