TipRanksStock Market NewsPTCT NewsRaymond James Remains a Buy on PTC Therapeutics (PTCT)

Raymond James Remains a Buy on PTC Therapeutics (PTCT)

In a report released today, Danielle Brill from Raymond James maintained a Buy rating on PTC Therapeutics (PTCTResearch Report), with a price target of $60.00. The company’s shares closed yesterday at $53.71.

Brill covers the Healthcare sector, focusing on stocks such as PTC Therapeutics, ACADIA Pharmaceuticals, and Sarepta Therapeutics. According to TipRanks, Brill has an average return of 13.6% and a 55.11% success rate on recommended stocks.

In addition to Raymond James, PTC Therapeutics also received a Buy from J.P. Morgan’s Eric Joseph in a report issued on August 5. However, on the same day, Barclays maintained a Hold rating on PTC Therapeutics (NASDAQ: PTCT).

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Based on PTC Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $165.53 million and a GAAP net loss of $152.09 million. In comparison, last year the company earned a revenue of $116.68 million and had a GAAP net loss of $118.37 million

Based on the recent corporate insider activity of 52 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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