PTC Therapeutics (NASDAQ:PTCT) Hits New 12-Month High at $53.34

PTC Therapeutics, Inc. (NASDAQ:PTCT)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $53.34 and last traded at $53.33, with a volume of 14349 shares trading hands. The stock had previously closed at $51.50.

PTCT has been the subject of a number of research analyst reports. SunTrust Banks initiated coverage on PTC Therapeutics in a research report on Tuesday, November 12th. They issued a “buy” rating and a $78.00 target price for the company. Zacks Investment Research raised PTC Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 target price on shares of PTC Therapeutics in a research report on Thursday, December 5th. TheStreet raised PTC Therapeutics from a “d” rating to a “c-” rating in a research report on Tuesday, October 29th. Finally, Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.78.

The firm has a market capitalization of $3.20 billion, a P/E ratio of -28.99 and a beta of 1.91. The business has a 50-day moving average of $48.88 and a 200 day moving average of $43.64. The company has a current ratio of 4.40, a quick ratio of 4.30 and a debt-to-equity ratio of 0.44.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.15). The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $72.03 million. PTC Therapeutics had a negative return on equity of 31.92% and a negative net margin of 74.86%. The business’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.06) earnings per share. As a group, research analysts forecast that PTC Therapeutics, Inc. will post -3.1 EPS for the current year.

In other PTC Therapeutics news, CAO Christine Marie Utter sold 13,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $50.02, for a total transaction of $687,775.00. Following the completion of the sale, the chief accounting officer now directly owns 5,224 shares of the company’s stock, valued at approximately $261,304.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stuart Walter Peltz sold 1,797 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $48.17, for a total value of $86,561.49. Following the sale, the chief executive officer now directly owns 23,085 shares of the company’s stock, valued at $1,112,004.45. The disclosure for this sale can be found here. Insiders have sold a total of 38,924 shares of company stock valued at $1,928,710 over the last three months. Corporate insiders own 7.00% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Pictet Asset Management Ltd. increased its holdings in PTC Therapeutics by 183.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 1,122,473 shares of the biopharmaceutical company’s stock worth $50,511,000 after purchasing an additional 725,997 shares in the last quarter. Orbimed Advisors LLC grew its holdings in shares of PTC Therapeutics by 37.5% in the second quarter. Orbimed Advisors LLC now owns 2,089,700 shares of the biopharmaceutical company’s stock valued at $94,037,000 after acquiring an additional 570,000 shares in the last quarter. BlackRock Inc. grew its holdings in shares of PTC Therapeutics by 9.6% in the second quarter. BlackRock Inc. now owns 4,502,671 shares of the biopharmaceutical company’s stock valued at $202,619,000 after acquiring an additional 394,773 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PTC Therapeutics by 9.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,867,289 shares of the biopharmaceutical company’s stock valued at $174,028,000 after acquiring an additional 342,747 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in shares of PTC Therapeutics in the second quarter valued at approximately $12,562,000. 99.31% of the stock is owned by hedge funds and other institutional investors.

About PTC Therapeutics (NASDAQ:PTCT)

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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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