PTC Therapeutics (NASDAQ:PTCT) Downgraded by Wall Street Zen to Hold

PTC Therapeutics (NASDAQ:PTCT) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts also recently commented on PTCT. Robert W. Baird set a $70.00 target price on PTC Therapeutics in a research note on Friday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $118.00 price target on shares of PTC Therapeutics in a report on Wednesday, September 3rd. Barclays lifted their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Cowen restated a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday. Nine investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $76.00.

PTC Therapeutics Stock Performance

NASDAQ:PTCT opened at $77.25 on Friday. The firm has a market cap of $6.20 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.28 and a beta of 0.47. PTC Therapeutics has a fifty-two week low of $35.95 and a fifty-two week high of $87.50. The firm has a 50-day simple moving average of $71.22 and a two-hundred day simple moving average of $58.02.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $1.39. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The firm had revenue of $211.01 million for the quarter, compared to the consensus estimate of $177.42 million. During the same quarter in the prior year, the firm posted ($1.39) earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Eric Pauwels sold 39,850 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $56.92, for a total transaction of $2,268,262.00. Following the completion of the sale, the insider directly owned 72,912 shares in the company, valued at $4,150,151.04. The trade was a 35.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Emma Reeve sold 25,562 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $65.96, for a total transaction of $1,686,069.52. Following the sale, the director directly owned 10,332 shares of the company’s stock, valued at $681,498.72. The trade was a 71.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 409,134 shares of company stock valued at $28,703,188. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Natixis Advisors LLC increased its stake in shares of PTC Therapeutics by 26.2% in the 1st quarter. Natixis Advisors LLC now owns 15,220 shares of the biopharmaceutical company’s stock worth $776,000 after purchasing an additional 3,160 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in PTC Therapeutics by 84.2% during the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 320 shares during the period. Deutsche Bank AG increased its position in PTC Therapeutics by 262.1% in the first quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company’s stock worth $17,414,000 after buying an additional 247,346 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in PTC Therapeutics by 11.4% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,337 shares of the biopharmaceutical company’s stock worth $1,342,000 after buying an additional 2,705 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of PTC Therapeutics by 178.6% in the first quarter. Invesco Ltd. now owns 310,329 shares of the biopharmaceutical company’s stock worth $15,814,000 after buying an additional 198,938 shares during the period.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.