PTC Therapeutics (NASDAQ:PTCT) Downgraded by Zacks Investment Research to Strong Sell

PTC Therapeutics (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday, Zacks.com reports.

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 analysts also recently issued reports on the stock. UBS Group initiated coverage on shares of PTC Therapeutics in a report on Wednesday, October 28th. They set a “neutral” rating and a $55.00 price target on the stock. BidaskClub downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 31st. Smith Barney Citigroup raised shares of PTC Therapeutics from a “neutral” rating to a “buy” rating in a report on Tuesday, January 5th. Cantor Fitzgerald dropped their price target on shares of PTC Therapeutics from $75.00 to $67.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. Finally, Royal Bank of Canada downgraded shares of PTC Therapeutics from a “sector perform” rating to an “underperform” rating and set a $45.00 price target on the stock. in a report on Monday, November 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.08.

NASDAQ:PTCT opened at $66.64 on Thursday. The firm has a market cap of $4.55 billion, a P/E ratio of -9.49 and a beta of 1.08. 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 $70.82. The firm has a 50-day simple moving average of $64.62 and a two-hundred day simple moving average of $54.82.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data 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 analyst estimates of $112.21 million. PTC Therapeutics had a negative net margin of 138.67% and a negative return on equity of 67.92%. PTC Therapeutics’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the business earned ($1.06) EPS. On average, equities research analysts predict that PTC Therapeutics will post -6.42 EPS for the current year.

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 772 shares of the firm’s stock in a transaction that occurred on Tuesday, January 5th. The shares were sold at an average price of $62.37, for a total transaction of $48,149.64. Following the sale, the vice president now owns 38,952 shares in the company, valued at approximately $2,429,436.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stuart Walter Peltz sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $53.66, for a total transaction of $2,683,000.00. Following the sale, the chief executive officer now owns 106,085 shares in the company, valued at approximately $5,692,521.10. The disclosure for this sale can be found here. In the last three months, insiders sold 810,903 shares of company stock worth $49,418,985. 7.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTCT. Assenagon Asset Management S.A. bought a new stake in shares of PTC Therapeutics during the third quarter valued at approximately $12,496,000. Vanguard Group Inc. raised its position in shares of PTC Therapeutics by 1.7% during the second quarter. Vanguard Group Inc. now owns 5,672,336 shares of the biopharmaceutical company’s stock valued at $287,815,000 after buying an additional 93,165 shares during the last quarter. BlackRock Inc. raised its position in shares of PTC Therapeutics by 1.3% during the third quarter. BlackRock Inc. now owns 5,742,425 shares of the biopharmaceutical company’s stock valued at $268,459,000 after buying an additional 73,730 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of PTC Therapeutics during the third quarter valued at approximately $2,567,000. Finally, Polar Capital LLP bought a new stake in shares of PTC Therapeutics during the third quarter valued at approximately $2,338,000.

PTC Therapeutics Company Profile

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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