Zacks Investment Research Downgrades PTC Therapeutics (PTCT) to Hold

Zacks Investment Research downgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report issued 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. “

Other equities research analysts have also issued research reports about the stock. Barclays reduced their price objective on shares of PTC Therapeutics from $22.00 to $15.00 and set an equal weight rating for the company in a research note on Friday, September 29th. JPMorgan Chase & Co. lowered shares of PTC Therapeutics from a neutral rating to an underweight rating and reduced their price objective for the company from $23.00 to $15.00 in a research note on Monday, October 9th. Royal Bank of Canada set a $15.00 price objective on shares of PTC Therapeutics and gave the company a hold rating in a research note on Wednesday, October 25th. ValuEngine lowered shares of PTC Therapeutics from a sell rating to a strong sell rating in a research note on Friday, December 29th. Finally, Credit Suisse Group reaffirmed an outperform rating and issued a $25.00 price objective on shares of PTC Therapeutics in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $19.14.

PTC Therapeutics (NASDAQ:PTCT) traded down $1.80 during trading on Friday, hitting $21.49. 1,459,800 shares of the stock traded hands, compared to its average volume of 1,323,440. 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 has a fifty-two week low of $8.12 and a fifty-two week high of $23.71. The stock has a market cap of $872.53, a PE ratio of -7.44 and a beta of 1.23.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.67) EPS for the quarter, missing the 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%. research analysts anticipate that PTC Therapeutics will post -2.01 earnings per share for the current year.

In related news, CEO Stuart Walter Peltz sold 2,230 shares of PTC Therapeutics stock in a transaction on Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the completion of the sale, the chief executive officer now owns 26,646 shares of the company’s stock, valued at approximately $480,427.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 2,719 shares of company stock valued at $48,848. 8.10% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. acquired a new position in PTC Therapeutics during the 3rd quarter worth $102,000. Quantbot Technologies LP acquired a new position in PTC Therapeutics during the 3rd quarter worth $150,000. Public Employees Retirement System of Ohio acquired a new position in PTC Therapeutics during the 2nd quarter worth $142,000. Prudential Financial Inc. acquired a new position in PTC Therapeutics during the 2nd quarter worth $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in PTC Therapeutics during the 3rd quarter worth $229,000. 86.12% of the stock is owned by hedge funds and other institutional investors.

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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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