The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) gapped down by $2.84 today and has $7.09 target or 11.00% below today’s $7.97 share price. The 5 months technical chart setup indicates high risk for the $266.92M company. The gap down was reported on Oct, 17 by Barchart.com. If the $7.09 price target is reached, the company will be worth $29.36 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 39.94% or $5.3 on October 17, hitting $7.97. About 11.29 million shares traded hands or 576.05% 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.
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. The company was downgraded on Wednesday, February 24 by Citigroup. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Hold” rating by Jefferies on Friday, October 23. The rating was downgraded by JP Morgan to “Neutral” on Tuesday, February 23. The firm earned “Outperform” rating on Thursday, February 25 by Oppenheimer. The rating was maintained by Oppenheimer with “Outperform” on Friday, October 16. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) earned “Buy” rating by Citigroup on Tuesday, August 25. The company was downgraded on Tuesday, July 26 by Credit Suisse. The firm has “Hold” rating by Jefferies given on Wednesday, February 24. The stock of PTC Therapeutics, Inc. (NASDAQ:PTCT) has “Outperform” rating given on Wednesday, February 24 by Wedbush. The rating was initiated by Credit Suisse on Wednesday, January 20 with “Outperform”.
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 Q2 2016. 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.
Putnam Ltd Llc holds 220,000 shares or 0% of its portfolio. Brandywine Invest Mgmt Ltd Limited Liability Company holds 0% or 56,851 shares in its portfolio. Moreover, Granite Point Capital Mngmt Lp has 0.99% invested in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 327,579 shares. Moreover, Nationwide Fund has 0% invested in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 35,300 shares. Blackrock Institutional Trust Na last reported 0% of its portfolio in the stock. Cam Group Inc Holdg A S has 63,700 shares for 0.01% of their US portfolio. State Board Of Administration Of Florida Retirement Sys last reported 20,974 shares in the company. Teachers Retirement Of The State Of Kentucky accumulated 17,300 shares or 0% of the stock. 1492 Mgmt Ltd Liability Co holds 0.1% or 15,580 shares in its portfolio. State Street Corp has invested 0% of its portfolio in PTC Therapeutics, Inc. (NASDAQ:PTCT). Morgan Stanley has 21,508 shares for 0% of their US portfolio. Sphera Funds Mgmt Limited holds 0.32% or 174,461 shares in its portfolio. Parametric Portfolio Ltd Liability Corp has 0% invested in the company for 53,184 shares. Mackenzie Fincl holds 138,200 shares or 0.01% of its portfolio. Moreover, California State Teachers Retirement has 0% invested in PTC Therapeutics, Inc. (NASDAQ:PTCT) for 69,741 shares.
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 Nasdaq.com with their article: “Mid-Day Market Update: Hasbro Gains On Earnings Beat; PTC Therapeutics Shares …” published on October 17, 2016, Fool.com 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: Benzinga.com and their article: “12 Biggest Mid-Day Losers For Monday” published on October 17, 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).
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.