PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $22.25.
A number of research firms have recently commented on PTCT. ValuEngine downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 23rd. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. William Blair reiterated a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, March 7th. Finally, Barclays restated an “equal weight” rating and set a $24.00 price target (up previously from $18.00) on shares of PTC Therapeutics in a report on Wednesday, March 7th.
In related news, EVP Neil Gregory Almstead sold 20,000 shares of the stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $48.31, for a total transaction of $966,200.00. Following the sale, the executive vice president now owns 37,154 shares in the company, valued at approximately $1,794,909.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Marcio Souza sold 5,161 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $34.65, for a total value of $178,828.65. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in PTC Therapeutics by 4.2% in the first quarter. Wells Fargo & Company MN now owns 79,356 shares of the biopharmaceutical company’s stock worth $2,148,000 after purchasing an additional 3,199 shares during the period. Principal Financial Group Inc. increased its stake in PTC Therapeutics by 15.1% in the first quarter. Principal Financial Group Inc. now owns 28,171 shares of the biopharmaceutical company’s stock worth $762,000 after purchasing an additional 3,704 shares during the period. New York State Common Retirement Fund increased its stake in PTC Therapeutics by 9.8% in the first quarter. New York State Common Retirement Fund now owns 45,900 shares of the biopharmaceutical company’s stock worth $1,242,000 after purchasing an additional 4,100 shares during the period. Bank of New York Mellon Corp increased its stake in PTC Therapeutics by 4.5% in the fourth quarter. Bank of New York Mellon Corp now owns 179,170 shares of the biopharmaceutical company’s stock worth $2,989,000 after purchasing an additional 7,693 shares during the period. Finally, Swiss National Bank increased its stake in PTC Therapeutics by 12.2% in the first quarter. Swiss National Bank now owns 73,565 shares of the biopharmaceutical company’s stock worth $1,991,000 after purchasing an additional 8,000 shares during the period. Institutional investors and hedge funds own 91.69% of the company’s stock.
Shares of NASDAQ PTCT traded up $1.55 during midday trading on Friday, reaching $33.73. 1,268,678 shares of the stock traded hands, compared to its average volume of 1,177,782. The company has a debt-to-equity ratio of 0.98, a quick ratio of 3.16 and a current ratio of 3.33. The company has a market capitalization of $1.47 billion, a P/E ratio of -16.70 and a beta of 1.71. PTC Therapeutics has a one year low of $14.56 and a one year high of $52.95.
PTC Therapeutics (NASDAQ:PTCT) last posted its earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The firm had revenue of $56.10 million for the quarter, compared to the consensus estimate of $63.46 million. PTC Therapeutics had a negative net margin of 30.91% and a negative return on equity of 40.42%. The firm’s revenue was up 111.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.85) earnings per share. equities analysts predict that PTC Therapeutics will post -0.79 EPS for the current fiscal year.
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.
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