PTC Therapeutics (NASDAQ:PTCT) Now Covered by Analysts at Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of PTC Therapeutics (NASDAQ:PTCTGet Rating) in a research report issued on Friday, The Fly reports. The firm set an “equal weight” rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. Credit Suisse Group lifted their price target on PTC Therapeutics to $55.00 in a report on Tuesday, August 9th. Raymond James lifted their price target on PTC Therapeutics from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. Royal Bank of Canada lifted their price target on PTC Therapeutics from $42.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, June 23rd. Finally, Citigroup began coverage on PTC Therapeutics in a report on Thursday, September 1st. They set a “buy” rating and a $70.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.88.

PTC Therapeutics Trading Up 0.1 %

Shares of PTCT stock opened at $53.85 on Friday. The stock’s fifty day moving average is $48.13 and its two-hundred day moving average is $39.75. The company has a debt-to-equity ratio of 679.17, a quick ratio of 1.20 and a current ratio of 1.22. The firm has a market capitalization of $3.85 billion, a P/E ratio of -6.88 and a beta of 0.58. PTC Therapeutics has a fifty-two week low of $25.01 and a fifty-two week high of $54.69.

PTC Therapeutics (NASDAQ:PTCTGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($2.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.46). The firm had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $162.53 million. PTC Therapeutics had a negative net margin of 89.89% and a negative return on equity of 983.21%. The company’s revenue for the quarter was up 41.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.68) EPS. Research analysts expect that PTC Therapeutics will post -6.29 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Stephanie Okey sold 2,296 shares of PTC Therapeutics stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $51.62, for a total value of $118,519.52. Following the completion of the transaction, the director now directly owns 1,867 shares of the company’s stock, valued at approximately $96,374.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in PTC Therapeutics by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 499,179 shares of the biopharmaceutical company’s stock valued at $19,883,000 after acquiring an additional 10,569 shares in the last quarter. Citigroup Inc. grew its position in shares of PTC Therapeutics by 75.2% during the fourth quarter. Citigroup Inc. now owns 132,868 shares of the biopharmaceutical company’s stock worth $5,292,000 after buying an additional 57,012 shares in the last quarter. Swiss National Bank grew its position in shares of PTC Therapeutics by 7.3% during the first quarter. Swiss National Bank now owns 150,465 shares of the biopharmaceutical company’s stock worth $5,614,000 after buying an additional 10,300 shares in the last quarter. Loomis Sayles & Co. L P grew its position in shares of PTC Therapeutics by 19.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,536,223 shares of the biopharmaceutical company’s stock worth $61,188,000 after buying an additional 247,968 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of PTC Therapeutics by 5.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 138,461 shares of the biopharmaceutical company’s stock worth $5,514,000 after buying an additional 7,721 shares in the last quarter.

PTC Therapeutics Company Profile

(Get Rating)

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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