RBC Capital analyst Brian Abrahams maintained a Hold rating on PTC Therapeutics (PTCT – Research Report) on May 23 and set a price target of $42.00. The company’s shares closed last Tuesday at $31.36, close to its 52-week low of $30.03.
According to TipRanks.com, Abrahams is a 1-star analyst with an average return of -2.7% and a 41.8% success rate. Abrahams covers the Healthcare sector, focusing on stocks such as Intra-Cellular Therapies, Karyopharm Therapeutics, and Corbus Pharmaceuticals.
Currently, the analyst consensus on PTC Therapeutics is a Moderate Buy with an average price target of $51.57, a 61.4% upside from current levels. In a report issued on May 23, Credit Suisse also maintained a Hold rating on the stock with a $51.00 price target.
Based on PTC Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $149 million and GAAP net loss of $127 million. In comparison, last year the company earned revenue of $118 million and had a GAAP net loss of $129 million.
Based on the recent corporate insider activity of 53 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, 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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