PTC Therapeutics Inc. (PTCT) Rating Lowered to Sell at Zacks Investment Research
PTC Therapeutics Inc. (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
Several other brokerages have also recently issued reports on PTCT. Jefferies Group restated a “hold” rating and issued a $7.00 target price on shares of PTC Therapeutics in a report on Thursday, September 22nd. Credit Suisse Group AG set a $6.00 target price on PTC Therapeutics and gave the company a “hold” rating in a report on Friday, August 5th. Citigroup Inc. restated a “buy” rating and issued a $48.00 target price on shares of PTC Therapeutics in a report on Tuesday, August 2nd. Wedbush restated a “neutral” rating and issued a $10.00 target price on shares of PTC Therapeutics in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. dropped their target price on PTC Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.82.
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Shares of PTC Therapeutics (NASDAQ:PTCT) opened at 13.59 on Tuesday. The stock’s 50 day moving average price is $10.05 and its 200 day moving average price is $7.93. PTC Therapeutics has a 52-week low of $5.27 and a 52-week high of $35.75. The company’s market capitalization is $463.19 million.
PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.27) by $0.13. The business earned $15.40 million during the quarter, compared to the consensus estimate of $15.24 million. PTC Therapeutics had a negative return on equity of 80.50% and a negative net margin of 305.62%. The business’s quarterly revenue was up 150.0% on a year-over-year basis. During the same period in the prior year, the company posted ($1.14) EPS. On average, equities research analysts forecast that PTC Therapeutics will post ($4.95) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Barclays PLC raised its position in PTC Therapeutics by 1.6% in the second quarter. Barclays PLC now owns 14,804 shares of the biopharmaceutical company’s stock valued at $103,000 after buying an additional 238 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in PTC Therapeutics by 2.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,974 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 436 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in PTC Therapeutics during the second quarter worth about $158,000. Bank of Montreal Can bought a new stake in PTC Therapeutics during the second quarter worth about $190,000. Finally, Eagle Global Advisors LLC bought a new stake in PTC Therapeutics during the second quarter worth about $203,000. 83.32% of the stock is currently owned by hedge funds and other 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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