PTC Therapeutics (NASDAQ:PTCT) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday, December 29th.
A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of PTC Therapeutics from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $23.00 to $15.00 in a research report on Monday, October 9th. Zacks Investment Research lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Bank of America lowered shares of PTC Therapeutics from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 26th. Royal Bank of Canada set a $15.00 price target on shares of PTC Therapeutics and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Citigroup reaffirmed a “buy” rating and set a $28.00 price target on shares of PTC Therapeutics in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.14.
PTC Therapeutics (PTCT) opened at $23.29 on Friday. The firm has a market cap of $966.29, a PE ratio of -8.06 and a beta of 1.23. PTC Therapeutics has a 1 year low of $8.12 and a 1 year high of $23.71. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.08 and a quick ratio of 2.97.
In other PTC Therapeutics news, CEO Stuart Walter Peltz sold 2,230 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $18.03, for a total transaction of $40,206.90. Following the sale, the chief executive officer now directly owns 26,646 shares in the company, valued at $480,427.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 2,719 shares of company stock worth $48,848 over the last quarter. Corporate insiders own 8.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in PTCT. Schwab Charles Investment Management Inc. boosted its stake in shares of PTC Therapeutics by 22.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 154,429 shares of the biopharmaceutical company’s stock valued at $2,831,000 after purchasing an additional 28,668 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $440,000. Prudential Financial Inc. acquired a new stake in shares of PTC Therapeutics in the 2nd quarter valued at approximately $201,000. Chicago Equity Partners LLC boosted its stake in shares of PTC Therapeutics by 9.2% in the 2nd quarter. Chicago Equity Partners LLC now owns 62,290 shares of the biopharmaceutical company’s stock valued at $1,142,000 after purchasing an additional 5,270 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of PTC Therapeutics by 13.0% in the 2nd quarter. Swiss National Bank now owns 56,565 shares of the biopharmaceutical company’s stock valued at $1,037,000 after purchasing an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 86.12% of the company’s stock.
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About PTC Therapeutics
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.
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