The PTC Therapeutics, Inc. (PTCT) Stock Rating Reaffirmed by Royal Bank Of Canada

The PTC Therapeutics, Inc. (PTCT) Stock Rating Reaffirmed by Royal Bank Of Canada

PTC Therapeutics, Inc. (NASDAQ:PTCT)‘s stock had its “hold” rating restated by equities research analysts at Royal Bank Of Canada in a research note issued on Wednesday. They currently have a $15.00 target price on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 13.29% from the company’s current price.

Several other research firms have also recently issued reports on PTCT. ValuEngine cut PTC Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th. Barclays PLC restated a “hold” rating and issued a $22.00 price target on shares of PTC Therapeutics in a research report on Friday, September 8th. Zacks Investment Research upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Wednesday, August 30th. BidaskClub cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co cut PTC Therapeutics from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $23.00 to $15.00 in a research report on Monday, October 9th. Two 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’s stock. The stock currently has an average rating of “Hold” and an average target price of $17.44.

Shares of PTC Therapeutics (NASDAQ:PTCT) traded up 7.19% during midday trading on Wednesday, reaching $17.30. 4,054,714 shares of the company traded hands. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $22.00. The stock’s market capitalization is $716.03 million. The stock’s 50-day moving average is $18.93 and its 200-day moving average is $16.98.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.89) by $0.45. The firm had revenue of $47.96 million during the quarter, compared to analysts’ expectations of $28.78 million. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. PTC Therapeutics’s revenue was up 206.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.14) earnings per share. Equities analysts predict that PTC Therapeutics will post ($2.35) EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in PTC Therapeutics by 17.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock worth $43,379,000 after purchasing an additional 346,525 shares in the last quarter. State Street Corp increased its position in PTC Therapeutics by 219.1% during the 1st quarter. State Street Corp now owns 1,896,674 shares of the biopharmaceutical company’s stock worth $18,668,000 after purchasing an additional 1,302,278 shares in the last quarter. FMR LLC increased its position in PTC Therapeutics by 4.1% during the 2nd quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock worth $12,904,000 after purchasing an additional 27,500 shares in the last quarter. Northern Trust Corp increased its position in PTC Therapeutics by 8.5% during the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after purchasing an additional 48,308 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in PTC Therapeutics by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 528,586 shares of the biopharmaceutical company’s stock worth $9,689,000 after purchasing an additional 5,960 shares in the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.

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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