The PTC Therapeutics’ (PTCT) Hold Rating Reiterated at Cowen and Company

The PTC Therapeutics’ (PTCT) Hold Rating Reiterated at Cowen and Company

PTC Therapeutics, Inc. (NASDAQ:PTCT)‘s stock had its “hold” rating reissued by analysts at Cowen and Company in a research note issued on Wednesday.

The analysts wrote, “Yesterday Clearside announced the completion of enrollment in the TYBEE study in.””

PTCT has been the topic of a number of other research reports. Zacks Investment Research cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine cut shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. William Blair began coverage on shares of PTC Therapeutics in a report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 price target on the stock. BidaskClub cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $15.00 price target on shares of PTC Therapeutics in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.44.

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

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at $125,000. Public Employees Retirement System of Ohio purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at $142,000. Prudential Financial Inc. purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at $201,000. American International Group Inc. grew its position in shares of PTC Therapeutics by 7.1% during the 1st quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of PTC Therapeutics by 12.8% during the 2nd quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 1,866 shares in the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.

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.

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