PTC Therapeutics (PTCT) Cut to Strong Sell at ValuEngine

ValuEngine lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a sell rating to a strong sell rating in a research note released on Friday morning.

Several other equities research analysts have also commented on PTCT. Barclays reduced their price target on shares of 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. Royal Bank of Canada reaffirmed a sector perform rating on shares of PTC Therapeutics in a research report on Friday, September 29th. Credit Suisse Group reissued an outperform rating and issued a $25.00 target price on shares of PTC Therapeutics in a report on Tuesday, September 26th. JPMorgan Chase & Co. reissued a neutral rating on shares of PTC Therapeutics in a report on Tuesday, September 26th. Finally, Cowen reissued a hold rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.75.

Shares of PTC Therapeutics (NASDAQ PTCT) opened at $16.68 on Friday. PTC Therapeutics has a 52-week low of $8.12 and a 52-week high of $22.00. The company has a market cap of $692.05, a PE ratio of -5.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08.

Institutional investors have recently added to or reduced their stakes in the stock. RTW Investments LP boosted its stake in PTC Therapeutics by 5.8% in the 3rd quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock worth $69,938,000 after purchasing an additional 190,929 shares during the period. Vanguard Group Inc. boosted its stake in PTC Therapeutics by 17.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock worth $43,379,000 after purchasing an additional 346,525 shares during the period. FMR LLC boosted its stake in PTC Therapeutics by 4.1% in the 2nd quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock worth $12,904,000 after purchasing an additional 27,500 shares during the period. Northern Trust Corp boosted its stake in PTC Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after purchasing an additional 48,308 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in PTC Therapeutics by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 528,586 shares of the biopharmaceutical company’s stock worth $9,689,000 after purchasing an additional 5,960 shares during the period. 86.12% of the stock is owned by institutional investors.

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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.

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

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