PTC Therapeutics, Inc. (PTCT) Stock Rating Lowered by Zacks Investment Research
PTC Therapeutics, Inc. (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
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. “
PTCT has been the topic of a number of other research reports. ValuEngine cut PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, September 7th. William Blair began coverage on PTC Therapeutics in a report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 target price on the stock. BidaskClub cut PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. J P Morgan Chase & Co cut PTC Therapeutics from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $23.00 to $15.00 in a report on Monday. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $25.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and a consensus price target of $17.11.
PTC Therapeutics (PTCT) opened at 18.18 on Wednesday. The firm’s market cap is $750.91 million. The stock has a 50 day moving average price of $19.64 and a 200 day moving average price of $16.38. PTC Therapeutics has a 52 week low of $4.03 and a 52 week high of $22.00.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.45. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. The business had revenue of $47.96 million for the quarter, compared to analysts’ expectations of $28.78 million. During the same quarter last year, the firm earned ($1.14) earnings per share. The business’s revenue was up 206.9% on a year-over-year basis. Equities research analysts expect that PTC Therapeutics will post ($2.35) EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of PTCT. Bank of New York Mellon Corp lifted its stake in shares of PTC Therapeutics by 12.4% during the first quarter. Bank of New York Mellon Corp now owns 182,048 shares of the biopharmaceutical company’s stock worth $1,792,000 after purchasing an additional 20,123 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of PTC Therapeutics during the first quarter worth about $187,000. American International Group Inc. lifted its stake in shares of PTC Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 20,480 shares of the biopharmaceutical company’s stock worth $202,000 after purchasing an additional 1,355 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of PTC Therapeutics during the first quarter worth about $429,000. Finally, AXA acquired a new position in shares of PTC Therapeutics during the first quarter worth about $103,000. Institutional investors own 81.30% 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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