ValuEngine cut shares of PTC Therapeutics (NASDAQ:PTCT) from a strong-buy rating to a buy rating in a research note released on Tuesday.
A number of other equities analysts also recently issued reports on PTCT. Credit Suisse Group initiated coverage on PTC Therapeutics in a report on Thursday, July 19th. They issued an outperform rating and a $49.00 price target for the company. Citigroup reiterated a buy rating and issued a $50.00 price objective (up previously from $35.00) on shares of PTC Therapeutics in a research note on Tuesday, July 24th. Bank of America boosted their price objective on PTC Therapeutics from $27.00 to $31.00 and gave the company an underperform rating in a research note on Tuesday, July 31st. Barclays boosted their price objective on PTC Therapeutics from $40.00 to $43.00 and gave the company an equal weight rating in a research note on Wednesday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on PTC Therapeutics to $51.00 and gave the company a neutral rating in a research note on Friday, September 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $46.25.
PTCT traded down $2.54 on Tuesday, reaching $33.76. The company’s stock had a trading volume of 613,911 shares, compared to its average volume of 682,113. The company has a quick ratio of 4.18, a current ratio of 2.73 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -16.71 and a beta of 2.21. PTC Therapeutics has a fifty-two week low of $14.87 and a fifty-two week high of $52.95.
A number of hedge funds and other institutional investors have recently modified their holdings of PTCT. Meeder Asset Management Inc. purchased a new stake in PTC Therapeutics in the second quarter valued at approximately $137,000. Lourd Capital LLC purchased a new stake in shares of PTC Therapeutics during the third quarter worth approximately $202,000. Xact Kapitalforvaltning AB purchased a new stake in shares of PTC Therapeutics during the second quarter worth approximately $216,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of PTC Therapeutics during the second quarter worth approximately $218,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of PTC Therapeutics during the second quarter worth approximately $222,000. Institutional investors own 85.72% of the company’s stock.
PTC Therapeutics Company Profile
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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