PTC Therapeutics, Inc. (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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 analysts also recently issued reports on PTCT. Barclays PLC downgraded shares of PTC Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $20.00 to $13.00 in a report on Friday, March 3rd. Credit Suisse Group restated a “positive” rating and set a $25.00 target price on shares of PTC Therapeutics in a report on Monday, March 6th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “sector perform” rating and set a $13.00 target price on shares of PTC Therapeutics in a report on Monday, March 6th. Cowen and Company restated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, March 16th. Finally, Citigroup Inc. set a $18.00 target price on shares of PTC Therapeutics and gave the company a “buy” rating in a report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and a consensus target price of $15.22.

PTC Therapeutics (NASDAQ:PTCT) opened at 18.33 on Friday. The company’s 50-day moving average is $15.11 and its 200-day moving average is $12.67. PTC Therapeutics has a 52-week low of $4.03 and a 52-week high of $18.86. The firm’s market capitalization is $629.01 million.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.88) by $0.03. The business had revenue of $26.50 million during the quarter, compared to the consensus estimate of $27.93 million. PTC Therapeutics had a negative net margin of 143.80% and a negative return on equity of 98.77%. The business’s revenue was up 40.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.22) EPS. Equities analysts predict that PTC Therapeutics will post ($3.55) earnings per share for the current year.

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In other news, Director Dawn Svoronos purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were bought at an average cost of $13.49 per share, with a total value of $337,250.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $337,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 7.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. AXA purchased a new stake in PTC Therapeutics during the first quarter valued at about $103,000. Janney Montgomery Scott LLC purchased a new stake in PTC Therapeutics during the first quarter valued at about $163,000. First Republic Investment Management Inc. boosted its stake in PTC Therapeutics by 24.8% in the fourth quarter. First Republic Investment Management Inc. now owns 16,001 shares of the biopharmaceutical company’s stock valued at $175,000 after buying an additional 3,184 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in PTC Therapeutics during the first quarter valued at about $187,000. Finally, American International Group Inc. boosted its stake in PTC Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after buying an additional 1,355 shares in the last quarter. 76.58% of the stock is currently owned by institutional investors.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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