PTC Therapeutics (NASDAQ:PTCT) Research Coverage Started at Wells Fargo & Company
Research analysts at Wells Fargo & Company assumed coverage on shares of PTC Therapeutics (NASDAQ:PTCT – Get Free Report) in a research note issued on Friday, Briefing.com reports. The brokerage set an “overweight” rating and a $37.00 price target on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 40.79% from the stock’s current price.
A number of other brokerages have also weighed in on PTCT. Raymond James lowered shares of PTC Therapeutics from an “outperform” rating to an “underperform” rating in a research report on Friday, September 15th. The Goldman Sachs Group cut their price objective on shares of PTC Therapeutics from $35.00 to $22.00 and set a “sell” rating for the company in a research report on Monday, September 18th. Royal Bank of Canada cut their price objective on shares of PTC Therapeutics from $49.00 to $26.00 and set a “sector perform” rating for the company in a research report on Monday, September 18th. StockNews.com began coverage on shares of PTC Therapeutics in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Barclays cut their price objective on shares of PTC Therapeutics from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 27th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $35.00.
Get Our Latest Analysis on PTCT
PTC Therapeutics Stock Performance
NASDAQ PTCT opened at $26.28 on Friday. PTC Therapeutics has a 52-week low of $17.53 and a 52-week high of $59.84. The company has a 50-day simple moving average of $21.40 and a 200 day simple moving average of $33.24. The company has a market capitalization of $1.98 billion, a PE ratio of -3.04 and a beta of 0.56.
PTC Therapeutics (NASDAQ:PTCT – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.91). The company had revenue of $196.60 million for the quarter, compared to analyst estimates of $210.23 million. The business’s revenue was down 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.53) EPS. As a group, analysts forecast that PTC Therapeutics will post -6.05 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its stake in shares of PTC Therapeutics by 3.6% during the first quarter. Ameritas Investment Partners Inc. now owns 5,642 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 196 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of PTC Therapeutics by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 15,316 shares of the biopharmaceutical company’s stock worth $742,000 after acquiring an additional 255 shares in the last quarter. Ellsworth Advisors LLC increased its stake in shares of PTC Therapeutics by 3.8% in the second quarter. Ellsworth Advisors LLC now owns 7,290 shares of the biopharmaceutical company’s stock worth $296,000 after buying an additional 266 shares during the period. Vise Technologies Inc. increased its stake in shares of PTC Therapeutics by 5.5% in the first quarter. Vise Technologies Inc. now owns 8,522 shares of the biopharmaceutical company’s stock worth $413,000 after buying an additional 444 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of PTC Therapeutics by 4.9% in the fourth quarter. Engineers Gate Manager LP now owns 9,864 shares of the biopharmaceutical company’s stock worth $377,000 after buying an additional 458 shares during the period.
About PTC Therapeutics (Get Free Report)
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders. Its portfolio pipeline includes commercial products and product candidates in various stages of development, including clinical, pre-clinical and research and discovery stages, focuses on the development of treatments for multiple therapeutic areas, such as rare diseases.
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