Credit Suisse Group set a $55.00 target price on PTC Therapeutics (NASDAQ:PTCT) in a report issued on Monday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Several other equities research analysts have also recently issued reports on PTCT. William Blair reissued a buy rating on shares of PTC Therapeutics in a research note on Tuesday. Zacks Investment Research cut PTC Therapeutics from a hold rating to a sell rating in a research note on Friday, October 19th. Barclays raised their target price on PTC Therapeutics from $40.00 to $43.00 and gave the stock an equal weight rating in a research note on Wednesday, August 8th. Bank of America raised their target price on PTC Therapeutics from $27.00 to $31.00 and gave the stock an underperform rating in a research note on Tuesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on PTC Therapeutics to $51.00 and gave the stock a neutral rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $41.88.
Shares of NASDAQ:PTCT traded down $3.00 during midday trading on Monday, hitting $34.90. The company had a trading volume of 149,358 shares, compared to its average volume of 650,531. PTC Therapeutics has a twelve month low of $14.87 and a twelve month high of $52.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 4.18 and a current ratio of 4.34. The stock has a market cap of $1.99 billion, a PE ratio of -17.28 and a beta of 2.21.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.66). The company had revenue of $53.59 million during the quarter, compared to analyst estimates of $70.56 million. PTC Therapeutics had a negative net margin of 25.03% and a negative return on equity of 27.41%. PTC Therapeutics’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.82) EPS. As a group, analysts predict that PTC Therapeutics will post -1.11 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of PTC Therapeutics during the third quarter worth $446,000. WINTON GROUP Ltd purchased a new position in shares of PTC Therapeutics during the third quarter worth $277,000. Rockefeller Capital Management L.P. purchased a new position in shares of PTC Therapeutics during the third quarter worth $296,000. Emerald Advisers Inc. PA purchased a new position in shares of PTC Therapeutics during the third quarter worth $10,596,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of PTC Therapeutics during the third quarter worth $9,746,000. Institutional investors and hedge funds own 85.72% of the company’s stock.
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.
Featured Article: How are Outstanding Shares Different from Authorized Shares?
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.