Jefferies Maintains PTC Therapeutics to Hold with Price Target $7.00

Brokerage firm Jefferies Maintains its rating on PTC Therapeutics(NASDAQ:PTCT). In a research note issued to the investors, the brokerage major Lowers the price-target to $7.00 per share. The shares have been rated Hold. The rating by Jefferies was issued on Aug 5, 2016.

In a different note, On Jul 26, 2016, Credit Suisse said it Downgrades its rating on PTC Therapeutics. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Neutral’ by the firm.

PTC Therapeutics (PTCT) shares turned negative on Wednesdays trading session with the shares closing down -0.06 points or -0.73% at a volume of 4,67,924. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.35. The peak price level was also seen at $8.35 while the days lowest was $8.03. Finally the shares closed at $8.11. The 52-week high of the shares is $42 while the 52-week low is $5.27. According to the latest information available, the market cap of the company is $278 M.

PTC Therapeutics(PTCT) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $15.63M. Analysts had an estimated revenue of $15.24M. Earnings per share were $-1.14. Analysts had estimated an EPS of $-1.27.

Several Insider Transactions has been reported to the SEC. On Mar 7, 2016, Mark Rothera (Chief Commercial Officer) purchased 2,000 shares at $6.23 per share price.Also, On Jul 6, 2015, David P Southwell (director) sold 23,604 shares at $47.86 per share price.On Jun 19, 2015, Allan Steven Jacobson (director) sold 5,000 shares at $50.13 per share price, according to the Form-4 filing with the securities and exchange commission.

PTC Therapeutics Inc. is a biopharmaceutical company focused on the discovery development and commercialization of orally administered small molecule therapeutics that target post-transcriptional control processes. The Company’s internally discovered pipeline addresses multiple therapeutic areas including rare disorders oncology and infectious diseases. The Company’s lead product Translarna (ataluren) is used for the treatment of genetic disorders due to a nonsense mutation in ambulatory patients aged five years and older. Ataluren is in clinical development for the treatment of Duchenne muscular dystrophy caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (nmCF).

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