PTC Therapeutics Inc. (PTCT) Downgraded to Hold at Zacks Investment Research
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 reports. RBC Capital Markets upped their target price on shares of PTC Therapeutics to $13.00 and gave the stock a hold rating in a research note on Friday, November 11th. Jefferies Group restated a hold rating and set a $7.00 target price on shares of PTC Therapeutics in a research note on Thursday, September 22nd. Credit Suisse Group AG set a $6.00 target price on shares of PTC Therapeutics and gave the stock a hold rating in a research note on Friday, August 5th. Cowen and Company restated a market perform rating on shares of PTC Therapeutics in a research note on Friday, November 4th. Finally, Wedbush restated a neutral rating and set a $7.00 target price (down from $12.00) on shares of PTC Therapeutics in a research note on Friday, November 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $31.12.
Shares of PTC Therapeutics (NASDAQ:PTCT) traded up 4.11% during mid-day trading on Wednesday, reaching $12.41. 396,765 shares of the company’s stock traded hands. PTC Therapeutics has a one year low of $4.03 and a one year high of $35.40. The firm’s market cap is $425.89 billion. The firm’s 50-day moving average is $9.40 and its 200 day moving average is $8.12.
PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $0.19. PTC Therapeutics had a negative net margin of 236.68% and a negative return on equity of 90.33%. The firm had revenue of $23 million for the quarter, compared to analyst estimates of $19.76 million. During the same period in the prior year, the firm earned ($1.27) earnings per share. The business’s quarterly revenue was up 135.1% compared to the same quarter last year. Analysts predict that PTC Therapeutics will post ($4.42) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in PTCT. Highbridge Capital Management LLC increased its stake in PTC Therapeutics by 122.6% in the third quarter. Highbridge Capital Management LLC now owns 27,239 shares of the biopharmaceutical company’s stock worth $382,000 after buying an additional 15,000 shares during the period. D. E. Shaw & Co. Inc. increased its stake in PTC Therapeutics by 2,511.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 751,177 shares of the biopharmaceutical company’s stock worth $10,524,000 after buying an additional 722,416 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in PTC Therapeutics during the third quarter worth approximately $514,000. Moore Capital Management LP acquired a new stake in PTC Therapeutics during the third quarter worth approximately $1,401,000. Finally, United Services Automobile Association increased its stake in PTC Therapeutics by 9.7% in the third quarter. United Services Automobile Association now owns 29,360 shares of the biopharmaceutical company’s stock worth $411,000 after buying an additional 2,600 shares during the period. 83.47% of the stock is owned by institutional investors.
PTC Therapeutics Company Profile
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.
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