StockNews.com Downgrades PTC Therapeutics (NASDAQ:PTCT) to Hold

PTC Therapeutics (NASDAQ:PTCT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Other equities analysts have also issued research reports about the company. Barclays raised their price target on PTC Therapeutics from $31.00 to $43.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Baird R W upgraded shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of PTC Therapeutics from $32.00 to $45.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. UBS Group initiated coverage on shares of PTC Therapeutics in a research note on Monday, August 26th. They issued a “buy” rating and a $47.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on PTC Therapeutics from $32.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.00.

PTC Therapeutics Price Performance

Shares of PTCT opened at $41.96 on Tuesday. The business’s 50 day simple moving average is $38.72 and its 200-day simple moving average is $35.65. PTC Therapeutics has a 1 year low of $20.75 and a 1 year high of $46.98. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -7.10 and a beta of 0.63.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of PTC Therapeutics by 40.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,669,816 shares of the biopharmaceutical company’s stock valued at $106,744,000 after purchasing an additional 1,057,223 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 945.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 575,860 shares of the biopharmaceutical company’s stock valued at $21,364,000 after acquiring an additional 643,960 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PTC Therapeutics by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 9,369,014 shares of the biopharmaceutical company’s stock worth $272,545,000 after purchasing an additional 568,171 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in PTC Therapeutics by 21.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,605,841 shares of the biopharmaceutical company’s stock worth $46,714,000 after purchasing an additional 282,422 shares during the period. Finally, Armistice Capital LLC grew its holdings in PTC Therapeutics by 2.9% during the second quarter. Armistice Capital LLC now owns 6,962,227 shares of the biopharmaceutical company’s stock valued at $212,905,000 after purchasing an additional 198,227 shares during the last quarter.

PTC Therapeutics Company Profile

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.