Royal Bank of Canada Lowers PTC Therapeutics (PTCT) Price Target to $46.00

Share on StockTwits

PTC Therapeutics (NASDAQ:PTCT) had its target price cut by Royal Bank of Canada from $51.00 to $46.00 in a research report report published on Tuesday morning. They currently have an outperform rating on the biopharmaceutical company’s stock.

Several other research analysts also recently issued reports on PTCT. Barclays dropped their price objective on shares of PTC Therapeutics from $43.00 to $40.00 and set an equal weight rating on the stock in a report on Tuesday. William Blair restated a buy rating on shares of PTC Therapeutics in a report on Tuesday. Zacks Investment Research downgraded shares of PTC Therapeutics from a hold rating to a sell rating in a report on Friday, October 19th. Credit Suisse Group began coverage on shares of PTC Therapeutics in a report on Thursday, July 19th. They set an outperform rating and a $49.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of PTC Therapeutics from $27.00 to $31.00 and gave the stock an underperform rating in a report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $46.25.

PTC Therapeutics stock opened at $34.76 on Tuesday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -17.21 and a beta of 2.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.34 and a quick ratio of 4.18. PTC Therapeutics has a fifty-two week low of $14.87 and a fifty-two week high of $52.95.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.66). PTC Therapeutics had a negative return on equity of 27.41% and a negative net margin of 25.03%. The company had revenue of $53.59 million for the quarter, compared to the consensus estimate of $70.56 million. During the same quarter in the previous year, the firm posted ($0.82) EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. Equities analysts forecast that PTC Therapeutics will post -1.11 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. bought a new stake in PTC Therapeutics in the third quarter valued at about $446,000. WINTON GROUP Ltd acquired a new position in PTC Therapeutics in the third quarter valued at approximately $277,000. Rockefeller Capital Management L.P. acquired a new position in PTC Therapeutics in the third quarter valued at approximately $296,000. Emerald Advisers Inc. PA acquired a new position in PTC Therapeutics in the third quarter valued at approximately $10,596,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new position in PTC Therapeutics in the third quarter valued at approximately $9,746,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: What is the Dividend Aristocrat Index?

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply