PTC Therapeutics (PTCT) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a report released on Saturday morning.

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. “

A number of other research firms have also recently commented on PTCT. ValuEngine upgraded shares of PTC Therapeutics from a strong sell rating to a sell rating in a report on Tuesday, January 9th. JPMorgan Chase & Co. cut shares of PTC Therapeutics from a neutral rating to an underweight rating and cut their price target for the stock from $23.00 to $15.00 in a report on Monday, October 9th. Citigroup restated a buy rating and issued a $28.00 price target on shares of PTC Therapeutics in a report on Wednesday, September 27th. Credit Suisse Group restated an outperform rating and issued a $25.00 price target on shares of PTC Therapeutics in a report on Tuesday, September 26th. Finally, Royal Bank of Canada restated a sector perform rating on shares of PTC Therapeutics in a report on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $19.14.

PTC Therapeutics (PTCT) opened at $23.29 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.97 and a current ratio of 3.08. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $23.71. The firm has a market cap of $966.29, a price-to-earnings ratio of -8.06 and a beta of 1.23.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.66) by ($0.01). PTC Therapeutics had a negative net margin of 75.64% and a negative return on equity of 75.19%. equities research analysts expect that PTC Therapeutics will post -2.01 EPS for the current fiscal year.

In other news, CEO Stuart Walter Peltz sold 2,230 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $18.03, for a total value of $40,206.90. Following the transaction, the chief executive officer now directly owns 26,646 shares in the company, valued at $480,427.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 2,719 shares of company stock worth $48,848. Company insiders own 8.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. purchased a new stake in PTC Therapeutics in the third quarter worth about $102,000. Quantbot Technologies LP purchased a new stake in PTC Therapeutics in the third quarter worth about $150,000. Public Employees Retirement System of Ohio purchased a new stake in PTC Therapeutics in the second quarter worth about $142,000. Prudential Financial Inc. purchased a new stake in PTC Therapeutics in the second quarter worth about $201,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in PTC Therapeutics in the third quarter worth about $229,000. Hedge funds and other institutional investors own 86.12% of the company’s stock.

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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.

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