ValuEngine Upgrades PTC Therapeutics (PTCT) to “Buy”

PTC Therapeutics (NASDAQ:PTCT) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also weighed in on PTCT. William Blair reissued a “hold” rating on shares of PTC Therapeutics in a report on Thursday, May 10th. Zacks Investment Research lowered shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Barclays reissued an “equal weight” rating and issued a $24.00 price target (up previously from $18.00) on shares of PTC Therapeutics in a report on Wednesday, March 7th. Credit Suisse Group reissued a “buy” rating and issued a $28.00 price target on shares of PTC Therapeutics in a report on Tuesday, January 30th. Finally, Royal Bank of Canada assumed coverage on shares of PTC Therapeutics in a report on Monday, January 29th. They issued a “sector perform” rating for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.86.

Shares of PTC Therapeutics opened at $31.99 on Thursday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.33 and a quick ratio of 3.16. The company has a market capitalization of $1.44 billion, a P/E ratio of -15.84 and a beta of 1.66. PTC Therapeutics has a fifty-two week low of $12.15 and a fifty-two week high of $33.22.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Wednesday, May 9th. The biopharmaceutical company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). The company had revenue of $56.10 million during the quarter, compared to analyst estimates of $63.46 million. PTC Therapeutics had a negative net margin of 30.91% and a negative return on equity of 40.42%. The business’s revenue for the quarter was up 111.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.85) EPS. equities analysts predict that PTC Therapeutics will post -1.55 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC boosted its stake in PTC Therapeutics by 22.0% in the first quarter. Millennium Management LLC now owns 677,501 shares of the biopharmaceutical company’s stock valued at $18,333,000 after acquiring an additional 122,296 shares during the last quarter. Verition Fund Management LLC bought a new position in PTC Therapeutics in the first quarter valued at approximately $379,000. Cubist Systematic Strategies LLC bought a new position in PTC Therapeutics in the first quarter valued at approximately $441,000. Scopia Capital Management LP boosted its stake in PTC Therapeutics by 42.7% in the first quarter. Scopia Capital Management LP now owns 5,914,052 shares of the biopharmaceutical company’s stock valued at $160,034,000 after acquiring an additional 1,770,782 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in PTC Therapeutics in the first quarter valued at approximately $590,000. 83.52% of the stock is currently owned by hedge funds and other institutional investors.

About PTC Therapeutics

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.

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

Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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