PTC Therapeutics (NASDAQ:PTCT) Downgraded by Wall Street Zen to Hold

Wall Street Zen lowered shares of PTC Therapeutics (NASDAQ:PTCT) from a buy rating to a hold rating in a research note released on Saturday.

PTCT has been the subject of a number of other research reports. Barclays increased their price target on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 5th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research note on Wednesday, November 5th. Morgan Stanley decreased their target price on shares of PTC Therapeutics from $76.00 to $71.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. Citigroup lifted their target price on shares of PTC Therapeutics from $50.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 1st. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Hold” and an average price target of $76.00.

PTC Therapeutics Price Performance

Shares of PTCT opened at $77.25 on Friday. The firm’s 50 day moving average is $71.22 and its 200-day moving average is $58.10. PTC Therapeutics has a 12-month low of $35.95 and a 12-month high of $87.50. The stock has a market capitalization of $6.20 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.27 and a beta of 0.47.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 EPS for the quarter, beating the consensus estimate of ($1.19) by $1.39. The business had revenue of $211.01 million during the quarter, compared to analyst estimates of $177.42 million. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned ($1.39) earnings per share. As a group, equities research analysts forecast that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Mark Elliott Boulding sold 24,585 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $61.34, for a total value of $1,508,043.90. Following the completion of the sale, the vice president directly owned 103,901 shares of the company’s stock, valued at $6,373,287.34. This represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil Gregory Almstead sold 71,928 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $83.44, for a total transaction of $6,001,672.32. Following the transaction, the insider directly owned 100,625 shares in the company, valued at $8,396,150. The trade was a 41.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 409,134 shares of company stock worth $28,703,188 over the last quarter. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

A number of hedge funds have recently modified their holdings of PTCT. Smartleaf Asset Management LLC raised its holdings in shares of PTC Therapeutics by 101.3% during the third quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 236 shares in the last quarter. Optiver Holding B.V. increased its position in PTC Therapeutics by 96.5% in the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 249 shares during the last quarter. Comerica Bank raised its stake in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 551 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 320 shares in the last quarter.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.