PTC Therapeutics Inc. (PTCT) Downgraded by Zacks Investment Research to “Sell”
PTC Therapeutics Inc. (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States. “
A number of other equities research analysts have also issued reports on PTCT. Wedbush reaffirmed a “neutral” rating and set a $12.00 target price on shares of PTC Therapeutics in a report on Wednesday, July 20th. Credit Suisse Group AG lowered shares of PTC Therapeutics from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 26th. Citigroup Inc. reaffirmed a “buy” rating and set a $48.00 target price on shares of PTC Therapeutics in a report on Tuesday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Sunday, August 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. PTC Therapeutics presently has an average rating of “Hold” and an average target price of $33.82.
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PTC Therapeutics (NASDAQ:PTCT) opened at 13.59 on Tuesday. The firm has a 50 day moving average of $10.05 and a 200-day moving average of $7.93. The stock’s market capitalization is $463.19 million. PTC Therapeutics has a 52 week low of $5.27 and a 52 week high of $35.75.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.27) by $0.13. The company earned $15.40 million during the quarter, compared to analysts’ expectations of $15.24 million. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The firm’s revenue for the quarter was up 150.0% on a year-over-year basis. During the same period in the prior year, the business posted ($1.14) earnings per share. On average, equities analysts predict that PTC Therapeutics will post ($4.95) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of PTCT. Wellington Management Group LLP boosted its position in PTC Therapeutics by 48.4% in the first quarter. Wellington Management Group LLP now owns 4,699,733 shares of the biopharmaceutical company’s stock worth $30,267,000 after buying an additional 1,532,712 shares during the last quarter. Spark Investment Management LLC boosted its position in PTC Therapeutics by 1,466.3% in the first quarter. Spark Investment Management LLC now owns 274,100 shares of the biopharmaceutical company’s stock worth $1,765,000 after buying an additional 256,600 shares during the last quarter. Bellevue Group AG bought a new position in PTC Therapeutics during the first quarter worth approximately $225,000. BlackRock Group LTD boosted its position in PTC Therapeutics by 1,020.2% in the first quarter. BlackRock Group LTD now owns 213,768 shares of the biopharmaceutical company’s stock worth $1,377,000 after buying an additional 194,685 shares during the last quarter. Finally, BlackRock Inc. boosted its position in PTC Therapeutics by 4,748.6% in the first quarter. BlackRock Inc. now owns 48,825 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 47,818 shares during the last quarter. 83.32% of the stock is currently owned by institutional investors.
About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.
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