Today: Today, PTC Therapeutics Inc. (PTCT) Upgraded to Buy at The Zacks Investment Research

Today, PTC Therapeutics Inc. (PTCT) Upgraded to Buy at The Zacks Investment Research

PTC Therapeutics Inc. (NASDAQ:PTCT) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $6.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would suggest a potential downside of 49.64% from the company’s current price.

According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “

Several other analysts have also weighed in on PTCT. Wedbush reissued a “neutral” rating and set a $12.00 price objective on shares of PTC Therapeutics in a report on Wednesday, July 20th. Credit Suisse Group AG lowered PTC Therapeutics from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 26th. Citigroup Inc. reissued a “buy” rating and set a $48.00 price objective on shares of PTC Therapeutics in a report on Tuesday, August 2nd. JPMorgan Chase & Co. decreased their price objective on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Finally, Cowen and Company restated a “hold” rating on shares of PTC Therapeutics in a research report on Sunday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. PTC Therapeutics has a consensus rating of “Hold” and an average target price of $31.72.

PTC Therapeutics (NASDAQ:PTCT) opened at 12.41 on Tuesday. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $35.40. The stock has a 50 day moving average price of $9.17 and a 200 day moving average price of $8.33. The company’s market cap is $423.99 million.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.22) by $0.19. PTC Therapeutics had a negative return on equity of 90.33% and a negative net margin of 236.68%. The company had revenue of $23 million for the quarter, compared to analyst estimates of $19.76 million. During the same quarter last year, the firm earned ($1.27) EPS. PTC Therapeutics’s revenue for the quarter was up 135.1% compared to the same quarter last year. Equities analysts forecast that PTC Therapeutics will post ($4.42) earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. boosted its stake in PTC Therapeutics by 24.9% in the second quarter. Alps Advisors Inc. now owns 48,135 shares of the biopharmaceutical company’s stock valued at $338,000 after buying an additional 9,594 shares during the period. Bank of Montreal Can purchased a new stake in PTC Therapeutics during the second quarter valued at approximately $190,000. Fisher Asset Management LLC boosted its stake in PTC Therapeutics by 4.6% in the second quarter. Fisher Asset Management LLC now owns 89,642 shares of the biopharmaceutical company’s stock valued at $670,000 after buying an additional 3,942 shares during the period. Bellevue Group AG purchased a new stake in PTC Therapeutics during the first quarter valued at approximately $225,000. Finally, A.R.T. Advisors LLC purchased a new stake in PTC Therapeutics during the first quarter valued at approximately $1,412,000. 84.70% of the stock is owned by institutional investors.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.

Related posts

Leave a Comment