Price Change to Note: What’s PTC Therapeutics, Inc. Downside After Today’s Big Decline?

Price Change to Note: What's PTC Therapeutics, Inc. Downside After Today's Big Decline?

The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) is a huge mover today! The stock decreased 39.94% or $5.3 on October 17, hitting $7.97. About 11.16M shares traded hands or 568.26% up from the average. PTC Therapeutics, Inc. (NASDAQ:PTCT) has risen 109.97% since March 14, 2016 and is uptrending. It has outperformed by 104.36% the S&P500.
The move comes after 8 months negative chart setup for the $266.92M company. It was reported on Oct, 17 by We have $7.09 PT which if reached, will make NASDAQ:PTCT worth $29.36M less.

Analysts await PTC Therapeutics, Inc. (NASDAQ:PTCT) to report earnings on November, 14. They expect $-1.19 earnings per share, up 6.30% or $0.08 from last year’s $-1.27 per share. After $-1.14 actual earnings per share 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. The stock has “Outperform” rating given by RBC Capital Markets on Friday, October 16. RBC Capital Markets downgraded PTC Therapeutics, Inc. (NASDAQ:PTCT) on Wednesday, February 24 to “Sector Perform” rating. Jefferies initiated the shares of PTCT in a report on Friday, October 23 with “Hold” rating. Oppenheimer maintained it with “Outperform” rating and $111 target price in Thursday, February 25 report. The firm earned “Buy” rating on Tuesday, August 25 by Citigroup. Jefferies downgraded the stock to “Underperform” rating in Wednesday, November 25 report. The firm has “Hold” rating given on Wednesday, February 24 by Jefferies. The stock has “Outperform” rating given by Credit Suisse on Wednesday, January 20. The firm has “Neutral” rating given on Wednesday, February 24 by Citigroup. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Outperform” rating by Wedbush on Wednesday, February 24.

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.
Cornerstone Capital Management Hldgs Lc reported 22,600 shares or 0% of all its holdings. Blackrock Limited Liability Corporation accumulated 0.01% or 742,711 shares. Susquehanna Int Group Llp owns 104,188 shares or 0% of their US portfolio. The Massachusetts-based State Street Corporation has invested 0% in PTC Therapeutics, Inc. (NASDAQ:PTCT). Manufacturers Life Ins The has 37,171 shares for 0% of their US portfolio. Savings Bank Of New York Mellon Corporation has invested 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). Wells Fargo Mn has invested 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). American International Gp Inc has invested 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). Sei Investments Com holds 0% or 29,081 shares in its portfolio. Swiss National Bank has invested 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). Jane Street Group Incorporated Lc has 0% invested in the company for 13,669 shares. Tocqueville Asset Mgmt Lp has 0.13% invested in the company for 1.40M shares. Barclays Plc owns 14,804 shares or 0% of their US portfolio. Moreover, Fisher Asset Ltd Liability Company has 0% invested in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 89,642 shares. Putnam Invs Ltd owns 220,000 shares or 0% of their US portfolio.

More notable recent PTC Therapeutics, Inc. (NASDAQ:PTCT) news were published by: which released: “Why PTC Therapeutics, Inc. Is Crashing Today” on October 17, 2016, also with their article: “Mid-Day Market Update: Hasbro Gains On Earnings Beat; PTC Therapeutics Shares …” published on October 17, 2016, published: “Why PTC Therapeutics, Inc. Gave Back As Much As 10% on Tuesday” on September 20, 2016. More interesting news about PTC Therapeutics, Inc. (NASDAQ:PTCT) were released by: and their article: “12 Biggest Mid-Day Losers For Monday” published on October 17, 2016 as well as‘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).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment