Zacks Investment Research cut shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a research note published on Saturday.
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. “
A number of other analysts have also issued reports on the company. ValuEngine raised PTC Therapeutics from a strong sell rating to a sell rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. raised their price target on PTC Therapeutics to $15.00 and gave the stock a neutral rating in a research note on Friday, November 24th. Bank of America lowered PTC Therapeutics from a neutral rating to an underperform rating in a research note on Thursday, October 26th. Cowen reissued a hold rating on shares of PTC Therapeutics in a research note on Wednesday, October 25th. Finally, Royal Bank of Canada set a $15.00 price target on PTC Therapeutics and gave the stock a hold rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $19.14.
PTC Therapeutics (PTCT) traded up $1.58 during trading on Friday, reaching $23.29. The company had a trading volume of 1,302,086 shares, compared to its average volume of 833,072. The stock has a market cap of $966.30, a PE ratio of -8.06 and a beta of 1.23. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $23.71. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.01). PTC Therapeutics had a negative return on equity of 75.19% and a negative net margin of 75.64%. equities research analysts predict that PTC Therapeutics will post -2.01 EPS for the current fiscal year.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the sale, the chief executive officer now directly owns 26,646 shares of the company’s stock, valued at approximately $480,427.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RTW Investments LP lifted its stake in shares of PTC Therapeutics by 5.8% in the 3rd quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock valued at $69,938,000 after purchasing an additional 190,929 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of PTC Therapeutics by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock valued at $43,379,000 after purchasing an additional 346,525 shares in the last quarter. FMR LLC lifted its stake in shares of PTC Therapeutics by 4.1% in the 2nd quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock valued at $12,904,000 after purchasing an additional 27,500 shares in the last quarter. Northern Trust Corp lifted its stake in shares of PTC Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock valued at $11,275,000 after purchasing an additional 48,308 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PTC Therapeutics by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 528,586 shares of the biopharmaceutical company’s stock valued at $9,689,000 after purchasing an additional 5,960 shares in the last quarter. 86.12% of the stock is currently owned by institutional investors and hedge funds.
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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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