Zacks Investment Research lowered shares of PTC Therapeutics Inc. (NASDAQ:PTCT) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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. Jefferies Group reiterated a hold rating and issued a $7.00 price target on shares of PTC Therapeutics in a research note on Thursday, September 22nd. Wedbush reissued a neutral rating and issued a $12.00 price objective on shares of PTC Therapeutics in a report on Wednesday, July 20th. Bank of America Corp. reissued a hold rating and issued a $15.00 price objective on shares of PTC Therapeutics in a report on Monday, October 3rd. Citigroup Inc. reissued a buy rating and issued a $48.00 price objective on shares of PTC Therapeutics in a report on Tuesday, August 2nd. Finally, Credit Suisse Group AG set a $6.00 price objective on shares of PTC Therapeutics and gave the company a hold rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $33.82.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

PTC Therapeutics (NASDAQ:PTCT) traded up 1.51% during mid-day trading on Tuesday, hitting $13.48. The stock had a trading volume of 131,507 shares. The company’s market cap is $459.44 million. PTC Therapeutics has a 1-year low of $5.27 and a 1-year high of $35.75. The company has a 50-day moving average price of $10.19 and a 200 day moving average price of $7.97.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($1.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.27) by $0.13. PTC Therapeutics had a negative net margin of 305.62% and a negative return on equity of 80.50%. The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.24 million. During the same quarter in the prior year, the business earned ($1.14) EPS. PTC Therapeutics’s quarterly revenue was up 150.0% on a year-over-year basis. Equities research analysts forecast that PTC Therapeutics will post ($4.95) EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its stake 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 period. ProShare Advisors LLC raised its position in shares of PTC Therapeutics by 0.8% in the second quarter. ProShare Advisors LLC now owns 29,573 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 243 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of 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 valued at $147,000 after buying an additional 436 shares in the last quarter. Teachers Advisors Inc. raised its position in shares of PTC Therapeutics by 4.9% in the second quarter. Teachers Advisors Inc. now owns 52,338 shares of the biopharmaceutical company’s stock valued at $367,000 after buying an additional 2,434 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of PTC Therapeutics by 6.1% in the second quarter. Swiss National Bank now owns 50,065 shares of the biopharmaceutical company’s stock valued at $351,000 after buying an additional 2,900 shares in the last quarter. Institutional investors own 83.32% of the company’s stock.

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.

5 Day Chart for NASDAQ:PTCT

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