PTC Therapeutics (PTCT) Downgraded to Buy at ValuEngine

ValuEngine lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a strong-buy rating to a buy rating in a report released on Tuesday.

PTCT has been the topic of several other reports. Credit Suisse Group set a $55.00 price objective on shares of PTC Therapeutics and gave the stock a buy rating in a research report on Wednesday, October 3rd. Cantor Fitzgerald started coverage on shares of PTC Therapeutics in a research report on Monday, October 1st. They set an overweight rating and a $66.00 price objective on the stock. William Blair reissued a buy rating on shares of PTC Therapeutics in a research report on Wednesday, October 3rd. Bank of America raised shares of PTC Therapeutics from an underperform rating to a neutral rating in a research report on Wednesday, October 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of PTC Therapeutics to $51.00 and gave the stock a neutral rating in a research report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $46.25.

Shares of PTC Therapeutics stock opened at $34.76 on Tuesday. PTC Therapeutics has a 1 year low of $14.87 and a 1 year high of $52.95. The company has a current ratio of 4.34, a quick ratio of 4.18 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -17.21 and a beta of 2.21.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Monday, November 5th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.66). PTC Therapeutics had a negative return on equity of 27.41% and a negative net margin of 25.03%. The business had revenue of $53.59 million for the quarter, compared to analysts’ expectations of $70.56 million. During the same period in the previous year, the business posted ($0.82) earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts forecast that PTC Therapeutics will post -1.11 EPS for the current year.

Several large investors have recently modified their holdings of PTCT. Meeder Asset Management Inc. purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $137,000. Lourd Capital LLC purchased a new stake in shares of PTC Therapeutics in the third quarter valued at about $202,000. Xact Kapitalforvaltning AB purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $216,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $218,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of PTC Therapeutics in the second quarter valued at about $222,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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