PTC Therapeutics, Inc. (PTCT) Lowered to Underweight at J P Morgan Chase & Co

J P Morgan Chase & Co downgraded shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) from a neutral rating to an underweight rating in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has $15.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $23.00.

A number of other research firms have also recently commented on PTCT. ValuEngine cut shares of PTC Therapeutics from a hold rating to a sell rating in a research note on Thursday, September 7th. Barclays PLC reiterated a hold rating and issued a $22.00 target price on shares of PTC Therapeutics in a research note on Friday, September 8th. Zacks Investment Research upgraded shares of PTC Therapeutics from a hold rating to a buy rating and set a $23.00 target price for the company in a research note on Wednesday, August 30th. BidaskClub cut shares of PTC Therapeutics from a strong-buy rating to a buy rating in a research note on Friday, August 4th. Finally, Citigroup Inc. reiterated a buy rating and issued a $28.00 target price on shares of PTC Therapeutics in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $17.11.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.45. The company had revenue of $47.96 million during the quarter, compared to analysts’ expectations of $28.78 million. PTC Therapeutics had a negative net margin of 88.43% and a negative return on equity of 81.84%. PTC Therapeutics’s revenue for the quarter was up 206.9% on a year-over-year basis. During the same period last year, the business earned ($1.14) EPS.

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Several large investors have recently bought and sold shares of PTCT. AXA purchased a new position in shares of PTC Therapeutics during the 1st quarter valued at approximately $103,000. Nisa Investment Advisors LLC purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at approximately $125,000. Public Employees Retirement System of Ohio purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at approximately $142,000. Virginia Retirement Systems ET AL purchased a new position in shares of PTC Therapeutics during the 1st quarter valued at approximately $187,000. Finally, Prudential Financial Inc. purchased a new position in shares of PTC Therapeutics during the 2nd quarter valued at approximately $201,000. 81.30% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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