PTC Therapeutics, Inc. (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 have also recently issued reports about the company. BidaskClub cut PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Barclays PLC reduced their price target on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating for the company in a research report on Friday, September 29th. William Blair assumed coverage on PTC Therapeutics in a research report on Wednesday, August 23rd. They issued a “market perform” rating and a $17.00 price target for the company. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $21.00 price target (up from $15.00) on shares of PTC Therapeutics in a research report on Friday, June 30th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $25.00 price target on shares of PTC Therapeutics in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. PTC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $17.11.
PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 81.84% and a negative net margin of 88.43%. The firm’s quarterly revenue was up 206.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.14) earnings per share. Equities research analysts expect that PTC Therapeutics will post ($2.35) earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of PTCT. AXA purchased a new position in PTC Therapeutics during the first quarter worth about $103,000. Nisa Investment Advisors LLC purchased a new position in shares of PTC Therapeutics in the 2nd quarter worth about $125,000. Public Employees Retirement System of Ohio purchased a new position in shares of PTC Therapeutics in the 2nd quarter worth about $142,000. Virginia Retirement Systems ET AL purchased a new position in shares of PTC Therapeutics in the 1st quarter worth about $187,000. Finally, Prudential Financial Inc. purchased a new position in shares of PTC Therapeutics in the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 81.30% of the company’s stock.
PTC Therapeutics Company Profile
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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