PTC Therapeutics (NASDAQ:PTCT) Stock Rating Lowered by Zacks Investment Research

PTC Therapeutics (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Zacks.com reports.

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. “

Several other equities analysts have also recently commented on PTCT. SunTrust Banks upped their target price on shares of PTC Therapeutics from $75.00 to $86.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Credit Suisse Group cut their target price on shares of PTC Therapeutics from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Bank of America cut their target price on shares of PTC Therapeutics from $60.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Raymond James started coverage on shares of PTC Therapeutics in a research note on Monday, August 24th. They set an “outperform” rating and a $63.00 target price for the company. Finally, Cantor Fitzgerald dropped their price objective on shares of PTC Therapeutics from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $58.70.

Shares of PTC Therapeutics stock opened at $47.22 on Friday. The firm has a fifty day simple moving average of $48.05 and a 200-day simple moving average of $48.74. The company has a current ratio of 3.00, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. PTC Therapeutics has a 1-year low of $30.79 and a 1-year high of $59.89. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -6.73 and a beta of 1.17.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Wednesday, August 5th. The biopharmaceutical company reported ($2.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.29) by ($1.49). The company had revenue of $75.24 million for the quarter, compared to analyst estimates of $82.04 million. PTC Therapeutics had a negative net margin of 138.67% and a negative return on equity of 67.92%. PTC Therapeutics’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.75) earnings per share. As a group, research analysts predict that PTC Therapeutics will post -6.42 earnings per share for the current year.

In other news, CEO Stuart Walter Peltz sold 100,000 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $55.70, for a total value of $5,570,000.00. Following the sale, the chief executive officer now owns 106,085 shares of the company’s stock, valued at approximately $5,908,934.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Emily Luisa Hill sold 2,581 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $52.50, for a total transaction of $135,502.50. Following the completion of the sale, the chief financial officer now directly owns 13,610 shares in the company, valued at approximately $714,525. The disclosure for this sale can be found here. In the last ninety days, insiders sold 136,494 shares of company stock worth $7,570,118. 7.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of PTC Therapeutics by 1.4% in the 1st quarter. State Street Corp now owns 2,372,677 shares of the biopharmaceutical company’s stock worth $105,845,000 after purchasing an additional 33,731 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of PTC Therapeutics by 226.5% in the 1st quarter. Wells Fargo & Company MN now owns 122,908 shares of the biopharmaceutical company’s stock worth $5,483,000 after purchasing an additional 85,264 shares during the last quarter. Squarepoint Ops LLC bought a new stake in PTC Therapeutics during the 1st quarter worth about $440,000. Aperio Group LLC grew its holdings in PTC Therapeutics by 30.9% during the 1st quarter. Aperio Group LLC now owns 6,519 shares of the biopharmaceutical company’s stock worth $291,000 after acquiring an additional 1,537 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in PTC Therapeutics by 16.5% during the 2nd quarter. Macquarie Group Ltd. now owns 933,938 shares of the biopharmaceutical company’s stock worth $47,388,000 after acquiring an additional 132,241 shares during the last quarter.

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) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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