Is PTC Therapeutics (NASDAQ:PTCT) now a ‘Buy’ After a Barclays Upgrade?

June 21, 2018 - By Vivian Park

PTC Therapeutics, Inc. (NASDAQ:PTCT) Logo

Investors sentiment increased to 1.26 in 2018 Q1. Its up 0.28, from 0.98 in 2017Q4. It is positive, as 16 investors sold PTC Therapeutics, Inc. shares while 37 reduced holdings. 36 funds opened positions while 31 raised stakes. 38.49 million shares or 8.57% more from 35.45 million shares in 2017Q4 were reported.

State Bank Of Ny Mellon invested in 179,230 shares. Blackrock Incorporated holds 0% or 3.28 million shares. Perceptive Limited Liability reported 0.23% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). 817,240 are held by Wellington Mngmt Grp Inc Llp. Ameritas Invest Inc holds 0% in PTC Therapeutics, Inc. (NASDAQ:PTCT) or 3,416 shares. 24,922 were reported by Arrowstreet Cap Limited Partnership. Group Inc reported 0% in PTC Therapeutics, Inc. (NASDAQ:PTCT). Federated Pa reported 29,457 shares stake. 49,350 are held by Alliancebernstein L P. 421,295 were reported by Goldman Sachs Grp. Barclays Public Limited reported 244,199 shares stake. Hall Laurie J Trustee owns 80 shares. 13,016 are held by Metropolitan Life Insur. Moreover, Moore Mngmt L P has 0.09% invested in PTC Therapeutics, Inc. (NASDAQ:PTCT). Jefferies Group Ltd Liability Corporation holds 54,523 shares.

Since January 3, 2018, it had 0 buys, and 5 insider sales for $240,352 activity. Another trade for 703 shares valued at $12,675 was made by Almstead Neil Gregory on Friday, January 5. $178,829 worth of stock was sold by Souza Marcio on Friday, June 1. Peltz Stuart Walter sold 2,230 shares worth $40,207.

PTC Therapeutics (NASDAQ:PTCT) Stock Upgrade

Barclays increased shares of PTC Therapeutics (NASDAQ:PTCT), raising their rating to a Hold in an analyst report issued to investors and clients on 20 June. Trading on the $1.66 billion market cap PTCT will be interesting to observe today.

PTC Therapeutics, Inc. (NASDAQ:PTCT) Ratings Coverage

Among 5 analysts covering PTC Therapeutics (NASDAQ:PTCT), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. PTC Therapeutics has $35 highest and $24 lowest target. $23.33’s average target is -34.54% below currents $35.64 stock price. PTC Therapeutics had 9 analyst reports since January 29, 2018 according to SRatingsIntel. On Monday, January 29 the stock rating was reinitiated by RBC Capital Markets with “Hold”. Barclays Capital maintained PTC Therapeutics, Inc. (NASDAQ:PTCT) rating on Wednesday, March 7. Barclays Capital has “Equal-Weight” rating and $24 target. The firm has “Buy” rating given on Thursday, February 22 by Citigroup. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Underweight” rating by Barclays Capital on Wednesday, April 4. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) has “Outperform” rating given on Monday, June 18 by William Blair. On Wednesday, April 18 the stock rating was maintained by Cowen & Co with “Hold”. On Monday, June 18 the stock rating was upgraded by RBC Capital Markets to “Outperform”. Barclays Capital upgraded PTC Therapeutics, Inc. (NASDAQ:PTCT) on Wednesday, June 20 to “Equal-Weight” rating. RBC Capital Markets maintained it with “Hold” rating and $31.0 target in Wednesday, March 7 report.

It closed at $35.64 lastly. It is down 144.83% since June 21, 2017 and is uptrending. It has outperformed by 132.26% the S&P500.

Analysts await PTC Therapeutics, Inc. (NASDAQ:PTCT) to report earnings on August, 14. They expect $-0.18 earnings per share, up 59.09 % or $0.26 from last year’s $-0.44 per share. After $-0.46 actual earnings per share reported by PTC Therapeutics, Inc. for the previous quarter, Wall Street now forecasts -60.87 % EPS growth.

PTC Therapeutics, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of orally administered, small molecule drugs that target post-transcriptional control processes. The company has market cap of $1.66 billion. The companyÂ’s lead product is Translarna , for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and which is in phase III clinical trials to treat cystic fibrosis caused by nonsense mutations. It currently has negative earnings. It also develops Translarna, which is in Phase II clinical trials for the treatment of mucopolysaccharidosis type I caused by nonsense mutation, nonsense mutation aniridia, and nonsense mutation Dravet syndrome/CDKL5; and RG7916 that is in Phase I clinical trials to treat spinal muscular atrophy.

More notable recent PTC Therapeutics, Inc. (NASDAQ:PTCT) news were published by: Fool.com which released: “Don’t Get Too Excited About PTC Therapeutics (Yet)” on June 20, 2018, also Streetinsider.com with their article: “Pre-Open Movers 06/18: (PTCT) (CBPO) (RCII) Higher; (CBIO) (ZIOP) (RDFN) Lower (more…)” published on June 18, 2018, Nasdaq.com published: “Mid-Day Market Update: Dow Down 350 Points; Tellurian Shares Plunge” on June 19, 2018. More interesting news about PTC Therapeutics, Inc. (NASDAQ:PTCT) were released by: Seekingalpha.com and their article: “Premarket analyst action – healthcare” published on June 20, 2018 as well as Seekingalpha.com‘s news article titled: “Sell-siders defend PTC Therapeutics after Sarepta-stoked 31% plunge” with publication date: June 19, 2018.

PTC Therapeutics, Inc. (NASDAQ:PTCT) Institutional Positions Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter: