PTC Therapeutics (PTCT) Lowered to Buy at ValuEngine

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PTC Therapeutics (NASDAQ:PTCT) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

Other equities analysts also recently issued research reports about the stock. William Blair reissued a “buy” rating on shares of PTC Therapeutics in a research note on Tuesday. Barclays cut their target price on shares of PTC Therapeutics from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Royal Bank of Canada lowered their price target on shares of PTC Therapeutics from $51.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday. Bank of America raised their price target on shares of PTC Therapeutics from $27.00 to $31.00 and gave the company an “underperform” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.25.

Shares of PTCT stock traded down $3.14 during mid-day trading on Tuesday, reaching $34.76. The company’s stock had a trading volume of 1,451,811 shares, compared to its average volume of 1,048,966. PTC Therapeutics has a 12-month low of $14.87 and a 12-month high of $52.95. The company has a current ratio of 4.34, a quick ratio of 4.18 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.99 billion, a PE ratio of -17.21 and a beta of 2.21.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($1.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($0.66). PTC Therapeutics had a negative net margin of 25.03% and a negative return on equity of 27.41%. The business had revenue of $53.59 million during the quarter, compared to analysts’ expectations of $70.56 million. During the same period in the prior year, the business posted ($0.82) EPS. The business’s revenue was up 28.0% on a year-over-year basis. Equities research analysts expect that PTC Therapeutics will post -1.11 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PointState Capital LP acquired a new stake in PTC Therapeutics during the 2nd quarter valued at $10,929,000. SG Americas Securities LLC acquired a new stake in PTC Therapeutics during the 2nd quarter valued at $284,000. Bank of New York Mellon Corp grew its holdings in PTC Therapeutics by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 185,830 shares of the biopharmaceutical company’s stock valued at $6,269,000 after purchasing an additional 6,600 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new stake in PTC Therapeutics during the 2nd quarter valued at $216,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in PTC Therapeutics by 32.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 295,635 shares of the biopharmaceutical company’s stock valued at $9,972,000 after purchasing an additional 72,308 shares in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

About PTC Therapeutics

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

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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