The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) hit a new 52-week low and has $3.84 target or 11.00% below today’s $4.31 share price. The 5 months bearish chart indicates high risk for the $148.49 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $3.84 price target is reached, the company will be worth $16.33 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 3.91M shares traded hands or 106.88% up from the average. PTC Therapeutics, Inc. (NASDAQ:PTCT) has declined 7.54% since April 1, 2016 and is downtrending. It has underperformed by 8.76% the S&P500.
Analysts await PTC Therapeutics, Inc. (NASDAQ:PTCT) to report earnings on November, 14. They expect $-1.19 EPS, up 6.30% or $0.08 from last year’s $-1.27 per share. After $-1.14 actual EPS reported by PTC Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 4.39% negative EPS growth.
PTC Therapeutics, Inc. (NASDAQ:PTCT) Ratings Coverage
Out of 7 analysts covering PTC Therapeutics (NASDAQ:PTCT), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. PTC Therapeutics has been the topic of 16 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Credit Suisse initiated PTC Therapeutics, Inc. (NASDAQ:PTCT) on Wednesday, January 20 with “Outperform” rating. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Neutral” rating by Credit Suisse on Tuesday, July 26. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Wednesday, February 24 report. Jefferies upgraded it to “Hold” rating and $12 target price in Wednesday, February 24 report. Oppenheimer maintained it with “Outperform” rating and $111 target price in Thursday, February 25 report. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Neutral” rating by JP Morgan on Tuesday, February 23. The stock has “Underperform” rating given by Jefferies on Wednesday, November 25. Wedbush maintained PTC Therapeutics, Inc. (NASDAQ:PTCT) rating on Wednesday, February 24. Wedbush has “Outperform” rating and $27 price target. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, October 16 report. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Outperform” rating by RBC Capital Markets on Friday, July 31.
According to Zacks Investment Research, “PTC Therapeutics, Inc. is a biopharmaceutical company. It is focused on the discovery and development of orally administered, small-molecule drugs for genetic disorders, oncology and infectious disease. PTC Therapeutics, Inc. is based in South Plainfield, United States.”
Insitutional Activity: The institutional sentiment increased to 1.23 in 2016 Q2. Its up 0.40, from 0.83 in 2016Q1. The ratio improved, as 17 funds sold all PTC Therapeutics, Inc. shares owned while 30 reduced positions. 17 funds bought stakes while 41 increased positions. They now own 28.13 million shares or 3.23% less from 29.06 million shares in 2016Q1.
Legal And General Group Inc Public Limited holds 0% or 8,176 shares in its portfolio. California Public Employees Retirement holds 0% or 22,000 shares in its portfolio. Fmr Limited owns 1.14M shares or 0% of their US portfolio. Numeric Invsts Lc has 0.01% invested in the company for 126,400 shares. Blackrock Advisors Ltd Liability Corp has 742,711 shares for 0.01% of their US portfolio. State Board Of Administration Of Florida Retirement Sys has 0% invested in the company for 20,974 shares. Springbok Cap Management Limited Liability accumulated 8,800 shares or 0.01% of the stock. Blackrock has invested 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). Goldman Sachs Group accumulated 0% or 69,023 shares. Eagle Global Advsr Lc, a Texas-based fund reported 28,870 shares. Middleton And Ma has invested 0.06% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). Natl Bank Of Montreal Can holds 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 27,009 shares. Sectoral Asset Management accumulated 648,976 shares or 0.47% of the stock. Group Incorporated One Trading Lp has 0% invested in the company for 47,562 shares. Hall Laurie J Trustee holds 0% or 120 shares in its portfolio.
More notable recent PTC Therapeutics, Inc. (NASDAQ:PTCT) news were published by: Fool.com which released: “Why PTC Therapeutics, Inc. Is Crashing Today” on October 17, 2016, also Marketwatch.com with their article: “PTC Therapeutics stock plummets 29% after FDA denies company’s DMD drug appeal” published on October 17, 2016, Reuters.com published: “BRIEF-PTC Therapeutics says total revenue for Q3 2016 was $23 mln” on November 02, 2016. More interesting news about PTC Therapeutics, Inc. (NASDAQ:PTCT) were released by: Prnewswire.com and their article: “PTC Therapeutics to Host Conference Call to Discuss Third Quarter Financial …” published on October 19, 2016 as well as Prnewswire.com‘s news article titled: “PTC Therapeutics Announces New Analyses that Support the Potential Benefit of …” with publication date: October 06, 2016.
PTCT Company Profile
PTC Therapeutics, Inc., incorporated on March 31, 1998, is a biopharmaceutical firm focused on the discovery, development and commercialization of orally administered, small molecule therapeutics that focus on post-transcriptional control processes. The Company’s internally discovered pipeline addresses multiple therapeutic areas, including rare disorders, oncology and infectious diseases. The Company’s lead product, Translarna (ataluren), is used for the treatment of nonsense mutation Duchenne muscular dystrophy (nmDMD) in ambulatory patients with age of over five years and older in over 30 member states of the European Economic Area (EEA). It holds commercialization rights to Translarna for all indications in all territories, across the world. Translarna is designated as an orphan medicinal product for the treatment of cystic fibrosis (CF), duchenne muscular dystrophy (DMD), Mucopolysaccharidosis type I (MPS I), and aniridia. The Company’s programs include Translarna for nmDMD, Translarna for nonsense mutation cystic fibrosis (nmCF), Translarna for mucopolysaccharidosis type I caused by nonsense mutation (nmMPS I), Translarna for nonsense mutation aniridia, Translarna for nonsense mutation Dravet syndrome/CDKL5, Spinal muscular atrophy (SMA) collaboration with Spinal Muscular Atrophy Foundation (SMA Foundation) and F. Hoffman-La Roche Ltd and Hoffman- La Roche Inc. (collectively Roche), and Cancer stem cell program (PTC596).
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