J P Morgan Chase & Co downgraded shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) from a neutral rating to an underweight rating in a research note issued to investors on Monday, October 9th, Marketbeat.com reports. The brokerage currently has $15.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $23.00.
Several other research firms have also weighed in on PTCT. ValuEngine lowered shares of PTC Therapeutics from a hold rating to a sell rating in a research note on Thursday, September 7th. Barclays PLC reiterated a hold rating and issued a $22.00 price target on shares of PTC Therapeutics in a research note on Friday, September 8th. Zacks Investment Research upgraded shares of PTC Therapeutics from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Wednesday, August 30th. BidaskClub downgraded shares of PTC Therapeutics from a strong-buy rating to a buy rating in a report on Friday, August 4th. Finally, Citigroup Inc. reissued a buy rating and issued a $28.00 price objective on shares of PTC Therapeutics in a report on Wednesday, September 27th. Two equities 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 presently has an average rating of Hold and a consensus target price of $17.11.
PTC Therapeutics (NASDAQ PTCT) opened at 17.79 on Monday. The stock’s market cap is $736.31 million. The company’s 50-day moving average price is $19.24 and its 200-day moving average price is $16.77. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $22.00.
PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.45. The firm had revenue of $47.96 million for the quarter, compared to analyst estimates 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 revenue was up 206.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.14) EPS. Analysts predict that PTC Therapeutics will post ($2.35) EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC boosted its stake in PTC Therapeutics by 93.0% during the third quarter. Fisher Asset Management LLC now owns 173,045 shares of the biopharmaceutical company’s stock worth $3,463,000 after acquiring an additional 83,403 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in PTC Therapeutics during the second quarter worth $142,000. Nomura Holdings Inc. boosted its stake in PTC Therapeutics by 28.7% during the second quarter. Nomura Holdings Inc. now owns 50,672 shares of the biopharmaceutical company’s stock worth $928,000 after acquiring an additional 11,300 shares in the last quarter. Voya Investment Management LLC boosted its stake in PTC Therapeutics by 12.8% during the second quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock worth $302,000 after acquiring an additional 1,866 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PTC Therapeutics by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 528,586 shares of the biopharmaceutical company’s stock valued at $9,689,000 after buying an additional 5,960 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.
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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