PTC Therapeutics, Inc. (NASDAQ:PTCT) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.

PTCT has been the subject of a number of other reports. Zacks Investment Research downgraded shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Citigroup Inc. reissued a “buy” rating and set a $17.00 price target (down from $28.00) on shares of PTC Therapeutics in a research note on Thursday, July 20th. BidaskClub downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. J P Morgan Chase & Co reissued a “neutral” rating and set a $21.00 price target (up from $15.00) on shares of PTC Therapeutics in a research note on Friday, June 30th. Finally, William Blair started coverage on shares of PTC Therapeutics in a research note on Wednesday, August 23rd. They set a “market perform” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.20.

PTC Therapeutics (PTCT) traded down 1.89% on Thursday, hitting $20.77. 781,370 shares of the stock traded hands. The stock has a 50-day moving average price of $19.69 and a 200 day moving average price of $14.91. The stock’s market cap is $857.88 million. PTC Therapeutics has a 12-month low of $4.03 and a 12-month high of $22.00.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.45. The business had revenue of $47.96 million during the quarter, compared to the consensus estimate of $28.78 million. PTC Therapeutics had a negative net margin of 88.43% and a negative return on equity of 81.84%. PTC Therapeutics’s revenue for the quarter was up 206.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.14) earnings per share. On average, equities analysts expect that PTC Therapeutics will post ($2.35) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. grew its holdings in PTC Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock valued at $202,000 after purchasing an additional 1,355 shares during the period. Alps Advisors Inc. grew its holdings in PTC Therapeutics by 5.6% during the second quarter. Alps Advisors Inc. now owns 31,191 shares of the biopharmaceutical company’s stock valued at $572,000 after purchasing an additional 1,667 shares during the period. Voya Investment Management LLC grew its holdings in PTC Therapeutics by 12.8% during the second quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock valued at $302,000 after purchasing an additional 1,866 shares during the period. ProShare Advisors LLC grew its holdings in PTC Therapeutics by 8.9% during the second quarter. ProShare Advisors LLC now owns 24,115 shares of the biopharmaceutical company’s stock valued at $442,000 after purchasing an additional 1,970 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in PTC Therapeutics by 3.0% during the first quarter. TIAA CREF Investment Management LLC now owns 96,318 shares of the biopharmaceutical company’s stock valued at $948,000 after purchasing an additional 2,774 shares during the period. Hedge funds and other institutional investors own 81.36% of the company’s stock.

About PTC Therapeutics

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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