PTC Therapeutics (NASDAQ:PTCT) Rating Lowered to Buy at BidaskClub

PTC Therapeutics (NASDAQ:PTCT) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday, BidAskClub reports.

PTCT has been the subject of a number of other research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded shares of PTC Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. raised shares of PTC Therapeutics from a “neutral” rating to an “overweight” rating and set a $71.00 price objective for the company in a research report on Wednesday, October 7th. UBS Group assumed coverage on shares of PTC Therapeutics in a research report on Wednesday, October 28th. They set a “neutral” rating and a $55.00 price objective for the company. Raymond James raised their price objective on shares of PTC Therapeutics from $63.00 to $70.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 16th. Finally, Smith Barney Citigroup downgraded shares of PTC Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, October 30th. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. PTC Therapeutics presently has an average rating of “Hold” and a consensus price target of $61.09.

NASDAQ:PTCT opened at $61.03 on Thursday. The company has a market capitalization of $4.16 billion, a PE ratio of -8.69 and a beta of 1.08. The company has a 50 day simple moving average of $63.76 and a two-hundred day simple moving average of $53.94. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.00. PTC Therapeutics has a fifty-two week low of $30.79 and a fifty-two week high of $68.81.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($1.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.07. The business had revenue of $82.71 million during the quarter, compared to the consensus estimate of $112.21 million. PTC Therapeutics had a negative net margin of 138.67% and a negative return on equity of 67.92%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.06) EPS. Research analysts predict that PTC Therapeutics will post -6.42 EPS for the current year.

In related news, CEO Stuart Walter Peltz sold 124,351 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $50.12, for a total value of $6,232,472.12. Following the transaction, the chief executive officer now directly owns 56,985 shares in the company, valued at approximately $2,856,088.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christine Marie Utter sold 2,500 shares of the stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $50.08, for a total value of $125,200.00. Following the completion of the transaction, the chief accounting officer now owns 10,349 shares in the company, valued at $518,277.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 903,990 shares of company stock worth $53,452,986. 7.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC lifted its stake in PTC Therapeutics by 124.5% during the 3rd quarter. Harbor Investment Advisory LLC now owns 559 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 310 shares in the last quarter. Advisors Asset Management Inc. bought a new position in PTC Therapeutics during the 2nd quarter valued at $92,000. Pacer Advisors Inc. bought a new position in PTC Therapeutics during the 3rd quarter valued at $100,000. Nisa Investment Advisors LLC lifted its stake in PTC Therapeutics by 340.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,135 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Exane Derivatives lifted its stake in PTC Therapeutics by 112.4% during the 3rd quarter. Exane Derivatives now owns 3,591 shares of the biopharmaceutical company’s stock valued at $168,000 after acquiring an additional 1,900 shares in the last quarter.

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

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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