PTC Therapeutics (PTCT) Downgraded by Zacks Investment Research to “Hold”

PTC Therapeutics (NASDAQ:PTCT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

Other research analysts have also recently issued reports about the company. Citigroup reiterated a “buy” rating and set a $28.00 price target on shares of PTC Therapeutics in a research report on Wednesday, September 27th. Barclays dropped their price objective on PTC Therapeutics from $22.00 to $15.00 and set an “equal weight” rating on the stock in a report on Friday, September 29th. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, October 25th. Royal Bank of Canada set a $15.00 price objective on PTC Therapeutics and gave the company a “hold” rating in a report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. raised their price objective on PTC Therapeutics to $15.00 and gave the company a “neutral” rating in a report on Friday, November 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. PTC Therapeutics presently has an average rating of “Hold” and an average price target of $19.14.

PTC Therapeutics (NASDAQ:PTCT) opened at $23.29 on Friday. The company has a current ratio of 3.08, a quick ratio of 2.97 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $966.29, a P/E ratio of -8.06 and a beta of 1.23. PTC Therapeutics has a 12-month low of $8.12 and a 12-month high of $23.71.

In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $18.03, for a total value of $40,206.90. Following the sale, the chief executive officer now directly owns 26,646 shares of the company’s stock, valued at $480,427.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 2,719 shares of company stock worth $48,848. 8.10% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. RTW Investments LP boosted its stake in shares of PTC Therapeutics by 5.8% in the third quarter. RTW Investments LP now owns 3,495,143 shares of the biopharmaceutical company’s stock worth $69,938,000 after acquiring an additional 190,929 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of PTC Therapeutics by 17.2% in the second quarter. Vanguard Group Inc. now owns 2,366,564 shares of the biopharmaceutical company’s stock worth $43,379,000 after acquiring an additional 346,525 shares during the last quarter. FMR LLC boosted its stake in shares of PTC Therapeutics by 4.1% in the second quarter. FMR LLC now owns 703,973 shares of the biopharmaceutical company’s stock worth $12,904,000 after acquiring an additional 27,500 shares during the last quarter. Northern Trust Corp boosted its stake in shares of PTC Therapeutics by 8.5% in the second quarter. Northern Trust Corp now owns 615,096 shares of the biopharmaceutical company’s stock worth $11,275,000 after acquiring an additional 48,308 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of PTC Therapeutics by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 528,586 shares of the biopharmaceutical company’s stock worth $9,689,000 after acquiring an additional 5,960 shares during the last quarter. 86.12% of the stock is currently owned by institutional investors.

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PTC Therapeutics Company Profile

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.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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