Zacks Investment Research upgraded shares of PTC Therapeutics Inc. (NASDAQ:PTCT) from a hold rating to a buy rating in a research report report published on Friday morning. The firm currently has $14.00 target price on the biopharmaceutical company’s stock.

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. “

Other equities analysts have also recently issued reports about the company. Citigroup Inc. reiterated a buy rating and set a $48.00 price target on shares of PTC Therapeutics in a research report on Tuesday, August 2nd. Credit Suisse Group AG set a $6.00 price target on PTC Therapeutics and gave the company a hold rating in a research report on Friday, August 5th. Cowen and Company reiterated a hold rating on shares of PTC Therapeutics in a research report on Sunday, August 7th. JPMorgan Chase & Co. reiterated a hold rating and set a $15.00 price target on shares of PTC Therapeutics in a research report on Thursday, November 3rd. Finally, Bank of America Corp. reiterated a hold rating and set a $15.00 price target on shares of PTC Therapeutics in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $31.72.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

PTC Therapeutics (NASDAQ:PTCT) opened at 11.47 on Friday. The company has a 50-day moving average price of $9.13 and a 200 day moving average price of $8.38. PTC Therapeutics has a 1-year low of $4.03 and a 1-year high of $35.40. The firm’s market capitalization is $391.87 million.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $19.76 million. During the same period last year, the firm earned ($1.27) EPS. The firm’s revenue for the quarter was up 135.1% on a year-over-year basis. Equities analysts anticipate that PTC Therapeutics will post ($4.42) earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in 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 during the last quarter. Canada Pension Plan Investment Board purchased a new stake in PTC Therapeutics during the third quarter worth about $140,000. State Board of Administration of Florida Retirement System boosted its stake in 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 during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in PTC Therapeutics during the second quarter worth about $158,000. Finally, First Trust Advisors LP purchased a new stake in PTC Therapeutics during the third quarter worth about $188,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

PTC Therapeutics Company Profile

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.

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