ValuEngine Downgrades PTC Therapeutics (PTCT) to Hold

PTC Therapeutics (NASDAQ:PTCT) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research firms also recently weighed in on PTCT. William Blair reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, May 10th. Zacks Investment Research downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 9th. Barclays reissued an “equal weight” rating and issued a $24.00 price objective (up previously from $18.00) on shares of PTC Therapeutics in a report on Wednesday, March 7th. Credit Suisse Group reissued a “buy” rating and issued a $28.00 price objective on shares of PTC Therapeutics in a report on Tuesday, January 30th. Finally, Royal Bank of Canada initiated coverage on PTC Therapeutics in a report on Monday, January 29th. They issued a “sector perform” rating for the company. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. PTC Therapeutics currently has an average rating of “Hold” and an average target price of $23.86.

PTC Therapeutics opened at $30.01 on Wednesday, MarketBeat reports. PTC Therapeutics has a twelve month low of $12.23 and a twelve month high of $33.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.33 and a quick ratio of 3.16. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -14.86 and a beta of 1.66.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). PTC Therapeutics had a negative return on equity of 40.42% and a negative net margin of 30.91%. The firm had revenue of $56.10 million for the quarter, compared to analyst estimates of $63.46 million. During the same period last year, the company earned ($0.85) EPS. The company’s revenue was up 111.7% compared to the same quarter last year. sell-side analysts forecast that PTC Therapeutics will post -1.55 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in shares of PTC Therapeutics by 15.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 17,493 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 2,400 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of PTC Therapeutics by 4.2% in the 1st quarter. Wells Fargo & Company MN now owns 79,356 shares of the biopharmaceutical company’s stock valued at $2,148,000 after buying an additional 3,199 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of PTC Therapeutics by 15.1% in the 1st quarter. Principal Financial Group Inc. now owns 28,171 shares of the biopharmaceutical company’s stock valued at $762,000 after buying an additional 3,704 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of PTC Therapeutics by 9.8% in the 1st quarter. New York State Common Retirement Fund now owns 45,900 shares of the biopharmaceutical company’s stock valued at $1,242,000 after buying an additional 4,100 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of PTC Therapeutics by 8.7% in the 3rd quarter. California State Teachers Retirement System now owns 64,160 shares of the biopharmaceutical company’s stock valued at $1,284,000 after buying an additional 5,119 shares during the last quarter. 91.70% of the stock is owned by institutional investors.

About PTC Therapeutics

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

Receive News & Ratings for PTC Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PTC Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply