RBC Capital analyst Brian Abrahams maintained a Hold rating on PTC Therapeutics (PTCT – Research Report) today and set a price target of $28.00. The company’s shares closed yesterday at $30.76.
Abrahams covers the Healthcare sector, focusing on stocks such as Regeneron, Vertex Pharmaceuticals, and Biogen. According to TipRanks, Abrahams has an average return of 10.3% and a 50.20% success rate on recommended stocks.
Currently, the analyst consensus on PTC Therapeutics is a Hold with an average price target of $27.40, which is a -10.92% downside from current levels. In a report released on March 5, Leerink Partners also reiterated a Hold rating on the stock with a $28.00 price target.
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Based on PTC Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $196.58 million and a GAAP net loss of $132.97 million. In comparison, last year the company earned a revenue of $217.13 million and had a GAAP net loss of $109.32 million
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTCT in relation to earlier this year.
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PTC Therapeutics (PTCT) Company Description:
PTC Therapeutics, Inc. is a biopharmaceutical company, which engages in the discovery and commercialization of clinically-differentiated medicines. It focuses on the development of new treatments for multiple therapeutic areas, including rare diseases and oncology. The company was founded by Allan Steven Jacobson and Stuart W. Peltz on March 31, 1998 and is headquartered in South Plainfield, NJ.
Read More on PTCT:
- PTC Therapeutics price target raised to $28 from $22 at RBC Capital
- PTC Therapeutics price target lowered to $30 from $32 at TD Cowen
- PTC Therapeutics Q4 and Fiscal Year-End Financial Update Call
- PTC Therapeutics sees FY24 revenue $600M-$680M, consensus $612.29M
- PTC Therapeutics reports Q4 EPS ($2.06), consensus 50c
