The PTC Therapeutics Inc. (PTCT) PT Raised to $15.00 at Credit Suisse Group AG

The PTC Therapeutics Inc. (PTCT) PT Raised to $15.00 at Credit Suisse Group AG

PTC Therapeutics Inc. (NASDAQ:PTCT) had its target price raised by equities researchers at Credit Suisse Group AG to $15.00 in a research report issued to clients and investors on Tuesday. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Credit Suisse Group AG’s price target points to a potential upside of 11.86% from the company’s current price.

Several other analysts have also issued reports on PTCT. Wedbush cut their price target on shares of PTC Therapeutics from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, July 26th. Zacks Investment Research downgraded shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 7th. JPMorgan Chase & Co. lowered their price objective on shares of PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 5th. Jefferies Group reaffirmed a “hold” rating and set a $7.00 price objective on shares of PTC Therapeutics in a research note on Thursday, September 22nd. Finally, Bank of America Corp. reaffirmed a “hold” rating and set a $15.00 price objective on shares of PTC Therapeutics in a research note on Monday, October 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $33.82.

PTC Therapeutics (NASDAQ:PTCT) opened at 13.41 on Tuesday. PTC Therapeutics has a 1-year low of $5.27 and a 1-year high of $35.76. The firm’s market cap is $457.05 million. The firm’s 50-day moving average price is $10.34 and its 200-day moving average price is $8.01.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The business earned $15.40 million during the quarter, compared to analyst estimates of $15.24 million. During the same period in the prior year, the business posted ($1.14) earnings per share. The company’s revenue was up 150.0% on a year-over-year basis. Equities research analysts anticipate that PTC Therapeutics will post ($4.95) earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock worth $103,000 after buying an additional 238 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 436 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of PTC Therapeutics during the second quarter worth $158,000. Bank of Montreal Can acquired a new position in shares of PTC Therapeutics during the second quarter worth $190,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of PTC Therapeutics during the second quarter worth $203,000. 83.32% of the stock is owned by institutional investors and hedge funds.

About PTC Therapeutics

Related posts

Leave a Comment