PTC Therapeutics (PTCT) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a hold rating to a sell rating in a research report report published on Friday.
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. “
Other equities analysts also recently issued research reports about the stock. Bank of America boosted their price target on shares of PTC Therapeutics from $27.00 to $31.00 and gave the stock an underperform rating in a research note on Tuesday, July 31st. ValuEngine upgraded shares of PTC Therapeutics from a buy rating to a strong-buy rating in a research note on Friday, August 10th. JPMorgan Chase & Co. boosted their price target on shares of PTC Therapeutics to $51.00 and gave the stock a neutral rating in a research note on Friday, September 28th. Barclays boosted their price target on shares of PTC Therapeutics from $40.00 to $43.00 and gave the stock an equal weight rating in a research note on Wednesday, August 8th. Finally, Citigroup restated a buy rating and issued a $50.00 price target (up previously from $35.00) on shares of PTC Therapeutics in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $42.25.
PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.15. The business had revenue of $68.74 million during the quarter, compared to the consensus estimate of $69.83 million. PTC Therapeutics had a negative net margin of 25.03% and a negative return on equity of 27.41%. On average, analysts expect that PTC Therapeutics will post -1.11 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of PTC Therapeutics during the 2nd quarter worth $137,000. Lourd Capital LLC purchased a new stake in shares of PTC Therapeutics during the 3rd quarter worth $202,000. Xact Kapitalforvaltning AB purchased a new stake in shares of PTC Therapeutics during the 2nd quarter worth $216,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of PTC Therapeutics during the 2nd quarter worth $218,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of PTC Therapeutics during the 2nd quarter worth $222,000. 85.47% of the stock is owned by institutional investors and hedge funds.
PTC Therapeutics Company Profile
PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients; and Emflaza (deflazacort) for treating Duchenne muscular dystrophy.
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