PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $39.94, but opened at $38.71. PTC Therapeutics shares last traded at $39.04, with a volume of 93,672 shares trading hands.
A number of research firms have recently issued reports on PTCT. Cantor Fitzgerald restated an "overweight" rating and set a $64.00 target price on shares of PTC Therapeutics in a research note on Tuesday, September 17th. Royal Bank of Canada raised their price objective on shares of PTC Therapeutics from $32.00 to $34.00 and gave the stock a "sector perform" rating in a research report on Friday, October 4th. Raymond James assumed coverage on PTC Therapeutics in a research report on Thursday. They issued a "market perform" rating on the stock. Bank of America lifted their price target on PTC Therapeutics from $25.00 to $32.00 and gave the stock an "underperform" rating in a report on Friday, June 21st. Finally, UBS Group initiated coverage on PTC Therapeutics in a report on Monday, August 26th. They issued a "buy" rating and a $47.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PTC Therapeutics has a consensus rating of "Hold" and an average target price of $39.08.
View Our Latest Analysis on PTC Therapeutics
The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of -4.98 and a beta of 0.65. The business's 50 day simple moving average is $34.34 and its 200-day simple moving average is $33.05.
PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.16). The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $192.12 million. On average, analysts expect that PTC Therapeutics, Inc. will post -5.09 earnings per share for the current year.
In related news, CFO Pierre Gravier sold 2,269 shares of the firm's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $34.02, for a total value of $77,191.38. Following the sale, the chief financial officer now directly owns 53,531 shares of the company's stock, valued at $1,821,124.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of PTC Therapeutics during the first quarter worth $46,000. CWM LLC increased its holdings in PTC Therapeutics by 354.7% in the 3rd quarter. CWM LLC now owns 2,687 shares of the biopharmaceutical company's stock worth $100,000 after purchasing an additional 2,096 shares in the last quarter. Quest Partners LLC bought a new position in PTC Therapeutics in the second quarter valued at about $128,000. Quarry LP boosted its stake in shares of PTC Therapeutics by 100.0% during the second quarter. Quarry LP now owns 5,000 shares of the biopharmaceutical company's stock valued at $153,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of PTC Therapeutics by 268.9% during the first quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company's stock worth $188,000 after purchasing an additional 4,741 shares during the last quarter.
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.
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