PTC Therapeutics (PTCT) is Downgraded by Credit Suisse to Neutral

PTC Therapeutics (PTCT) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 26, 2016.

Many Wall Street Analysts have commented on PTC Therapeutics. Shares were Reiterated by Wedbush on Jul 26, 2016 to “Neutral” and Lowered the Price Target to $ 10 from a previous price target of $12 .

On the company’s financial health, PTC Therapeutics reported $-1.22 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 5, 2016. Analyst had a consensus of $-1.25. The company had revenue of $18.90 million for the quarter, compared to analysts expectations of $13.76 million. The company’s revenue was up 152.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.15 EPS.

PTC Therapeutics opened for trading at $6.89 and hit $7.5 on the upside on Wednesday, eventually ending the session at $7.41, with a gain of 8.02% or 0.55 points. The heightened volatility saw the trading volume jump to 17,97,881 shares. Company has a market cap of $254 M.

In a different news, on Mar 7, 2016, Mark Rothera (Chief Commercial Officer) purchased 2,000 shares at $6.23 per share price. According to the SEC, on Jul 6, 2015, David P Southwell (director) sold 23,604 shares at $47.86 per share price. On Jun 19, 2015, Allan Steven Jacobson (director) sold 5,000 shares at $50.13 per share price, according to the Form-4 filing with the securities and exchange commission.

PTC Therapeutics Inc. is a biopharmaceutical company focused on the discovery development and commercialization of orally administered small molecule therapeutics that target 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 genetic disorders due to a nonsense mutation in ambulatory patients aged five years and older. Ataluren is in clinical development for the treatment of Duchenne muscular dystrophy caused by a nonsense mutation (nmDMD) and cystic fibrosis caused by a nonsense mutation (nmCF).

PTC Therapeutics

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