Raymond James slashes price target on PTC Therapeutics Inc. [PTCT] – find out why.

PTC Therapeutics Inc. [NASDAQ: PTCT] gained 4.10% on the last trading session, reaching $50.01 price per share at the time. The company report on August 21, 2020 that PTC Therapeutics Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).

PTC Therapeutics, Inc. (NASDAQ: PTCT) today announced that on August 18, 2020 it approved non-statutory stock options to purchase an aggregate of 49,165 shares of its common stock and 14,175 restricted stock units (“RSUs”), each representing the right to receive one share of its common stock upon vesting, to five new employees. The awards were made pursuant to the NASDAQ inducement grant exception as a component of the new hires’ employment compensation.

The inducement grants were approved by PTC’s Compensation Committee on August 18, 2020 and are being made as an inducement material to each employee’s acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).

PTC Therapeutics Inc. represents 65.15 million in outstanding shares, while the company has a total market value of $3.38 billion with the latest information. PTCT stock price has been found in the range of $48.20 to $50.46.

If compared to the average trading volume of 790.22K shares, PTCT reached a trading volume of 1050436 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about PTC Therapeutics Inc. [PTCT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTCT shares is $60.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTCT stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for PTC Therapeutics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 25, 2020. While these analysts kept the previous recommendation, Citigroup dropped their target price from $71 to $67. The new note on the price target was released on April 09, 2020, representing the official price target for PTC Therapeutics Inc. stock. On February 20, 2020, analysts increased their price target for PTCT shares from 55 to 71.

The Average True Range (ATR) for PTC Therapeutics Inc. is set at 2.06, with the Price to Sales ratio for PTCT stock in the period of the last 12 months amounting to 10.85. The Price to Book ratio for the last quarter was 5.69, with the Price to Cash per share for the same quarter was set at 7.39.

Trading performance analysis for PTCT stock

PTC Therapeutics Inc. [PTCT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.79. With this latest performance, PTCT shares gained by 2.54% in over the last four-week period, additionally sinking by -7.97% over the last 6 months – not to mention a rise of 12.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTCT stock in for the last two-week period is set at 53.42, with the RSI for the last a single of trading hit 57.58, and the three-weeks RSI is set at 51.38 for PTC Therapeutics Inc. [PTCT]. The present Moving Average for the last 50 days of trading for this stock 50.69, while it was recorded at 48.85 for the last single week of trading, and 49.30 for the last 200 days.

PTC Therapeutics Inc. [PTCT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and PTC Therapeutics Inc. [PTCT] shares currently have an operating margin of -62.80 and a Gross Margin at +87.04. PTC Therapeutics Inc.’s Net Margin is presently recorded at -81.95.

Return on Total Capital for PTCT is now -27.04, given the latest momentum, and Return on Invested Capital for the company is -36.22. Return on Equity for this stock declined to -53.24, with Return on Assets sitting at -18.34. When it comes to the capital structure of this company, PTC Therapeutics Inc. [PTCT] has a Total Debt to Total Equity ratio set at 55.19. Additionally, PTCT Total Debt to Total Capital is recorded at 35.56, with Total Debt to Total Assets ending up at 20.20. Long-Term Debt to Equity for the company is recorded at 50.96, with the Long-Term Debt to Total Capital now at 32.84.

Reflecting on the efficiency of the workforce at the company, PTC Therapeutics Inc. [PTCT] managed to generate an average of -$330,586 per employee. Receivables Turnover for the company is 4.97 with a Total Asset Turnover recorded at a value of 0.22.PTC Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 3.00.

PTC Therapeutics Inc. [PTCT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, PTC Therapeutics Inc. posted -1.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.76/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -39.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTCT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for PTC Therapeutics Inc. go to -9.51%.

An analysis of insider ownership at PTC Therapeutics Inc. [PTCT]

There are presently around $3,434 million, or 99.32% of PTCT stock, in the hands of institutional investors. The top three institutional holders of PTCT stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 8,023,699, which is approximately 28.623% of the company’s market cap and around 0.40% of the total institutional ownership; FMR LLC, holding 6,694,744 shares of the stock with an approximate value of $334.8 million in PTCT stocks shares; and VANGUARD GROUP INC, currently with $283.67 million in PTCT stock with ownership of nearly 1.67% of the company’s market capitalization.

Positions in PTC Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 118 institutional holders increased their position in PTC Therapeutics Inc. [NASDAQ:PTCT] by around 10,630,419 shares. Additionally, 85 investors decreased positions by around 4,711,077 shares, while 29 investors held positions by with 53,326,388 shares. The mentioned changes placed institutional holdings at 68,667,884 shares, according to the latest SEC report filing. PTCT stock had 29 new institutional investments in for a total of 1,296,847 shares, while 27 institutional investors sold positions of 1,827,419 shares during the same period.

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