PTC Therapeutics (PTCT) Rating Lowered to Hold at Zacks Investment Research

PTC Therapeutics (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday, January 13th.

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. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Citigroup reiterated a “buy” rating and set a $28.00 price target on shares of PTC Therapeutics in a research report on Wednesday, September 27th. Bank of America downgraded shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 26th. ValuEngine upgraded shares of PTC Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PTC Therapeutics to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.14.

Shares of PTC Therapeutics (NASDAQ:PTCT) traded up $0.99 on Friday, reaching $21.92. The company’s stock had a trading volume of 1,282,707 shares, compared to its average volume of 883,095. PTC Therapeutics has a 12 month low of $8.12 and a 12 month high of $23.71. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.01). PTC Therapeutics had a negative net margin of 75.64% and a negative return on equity of 75.19%. analysts expect that PTC Therapeutics will post -2.01 EPS for the current year.

In related news, CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $18.03, for a total transaction of $40,206.90. Following the completion of the transaction, the chief executive officer now directly owns 26,646 shares in the company, valued at approximately $480,427.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 2,719 shares of company stock valued at $48,848 over the last 90 days. Insiders own 8.10% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Voya Investment Management LLC raised its position in shares of PTC Therapeutics by 12.8% during the 2nd quarter. Voya Investment Management LLC now owns 16,459 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 1,866 shares during the last quarter. ProShare Advisors LLC grew its stake in PTC Therapeutics by 8.9% in the 2nd quarter. ProShare Advisors LLC now owns 24,115 shares of the biopharmaceutical company’s stock worth $442,000 after acquiring an additional 1,970 shares during the period. Teachers Advisors LLC grew its stake in PTC Therapeutics by 5.2% in the 2nd quarter. Teachers Advisors LLC now owns 61,324 shares of the biopharmaceutical company’s stock worth $1,124,000 after acquiring an additional 3,026 shares during the period. Rhumbline Advisers grew its stake in PTC Therapeutics by 8.6% in the 3rd quarter. Rhumbline Advisers now owns 42,103 shares of the biopharmaceutical company’s stock worth $842,000 after acquiring an additional 3,335 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in PTC Therapeutics by 49.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,582 shares of the biopharmaceutical company’s stock worth $232,000 after acquiring an additional 3,835 shares during the period. Hedge funds and other institutional investors own 86.12% of the company’s stock.

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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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