Today, The Zacks Investment Research lowers the Stock rating of PTC Therapeutics Inc. (PTCT)

Today, The Zacks Investment Research lowers the Stock rating of PTC Therapeutics Inc. (PTCT)

Zacks Investment Research cut shares of PTC Therapeutics Inc. (NASDAQ:PTCT) from a buy rating to a hold rating in a research report sent to investors on Saturday.

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. “

PTCT has been the topic of a number of other reports. Citigroup Inc. raised PTC Therapeutics from a neutral rating to a buy rating and lifted their price target for the stock from $7.00 to $15.00 in a research note on Friday, November 11th. Jefferies Group reaffirmed a hold rating and issued a $7.00 price target on shares of PTC Therapeutics in a research note on Thursday, September 22nd. Wedbush reaffirmed a neutral rating and issued a $10.00 price target on shares of PTC Therapeutics in a research note on Tuesday, October 11th. Cowen and Company reaffirmed a market perform rating on shares of PTC Therapeutics in a research note on Friday, November 4th. Finally, Bank of America Corp. reaffirmed a hold rating and issued a $15.00 price target on shares of PTC Therapeutics in a research note on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. PTC Therapeutics presently has an average rating of Hold and a consensus price target of $31.72.

PTC Therapeutics (NASDAQ:PTCT) opened at 12.41 on Friday. PTC Therapeutics has a one year low of $4.03 and a one year high of $35.40. The company has a 50 day moving average price of $9.17 and a 200-day moving average price of $8.33. The company’s market capitalization is $423.99 million.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings results on Wednesday, November 2nd. The biopharmaceutical company reported ($1.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $0.19. The business had revenue of $23 million for the quarter, compared to analysts’ expectations of $19.76 million. PTC Therapeutics had a negative return on equity of 90.33% and a negative net margin of 236.68%. The business’s quarterly revenue was up 135.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.27) EPS. Analysts expect that PTC Therapeutics will post ($4.42) EPS for the current fiscal year.

A number of large investors have recently modified their holdings of PTCT. Prudential Financial Inc. boosted its stake in shares of PTC Therapeutics by 21.6% in the first quarter. Prudential Financial Inc. now owns 108,850 shares of the biopharmaceutical company’s stock valued at $701,000 after buying an additional 19,300 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of PTC Therapeutics during the first quarter valued at $1,610,000. A.R.T. Advisors LLC purchased a new stake in shares of PTC Therapeutics during the first quarter valued at $1,412,000. Fisher Asset Management LLC boosted its stake in shares of PTC Therapeutics by 4.6% in the second quarter. Fisher Asset Management LLC now owns 89,642 shares of the biopharmaceutical company’s stock valued at $670,000 after buying an additional 3,942 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of PTC Therapeutics during the second quarter valued at $190,000. 84.70% of the stock is currently owned by institutional investors.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older.

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