Analysts on Wall Street Lower Ratings for These 5 Stocks

01. PTC Therapeutics, Inc. (NASDAQ:PTCT)

Price Reaction after the Downgrade: -1.98 (-7.54%)

On September 18, Citi downgraded PTC Therapeutics, Inc. (NASDAQ:PTCT) to “Neutral” from “Buy” and adjusted its price target from $55 to $29. The downgrade was made due to a recent European Medicines Agency advisory committee recommendation. This recommendation suggests that conditional approval for PTC Therapeutics, Inc. (NASDAQ:PTCT) Duchenne muscular dystrophy drug, Translarna, should not be converted into full approval. Citi expressed concerns about the negative opinion from EU regulators, which they believe will limit opportunities for near-term upside. They anticipate that the stock will remain within a relatively narrow trading range, albeit with some volatility, until there is more clarity regarding the impact of this decision on PTC Therapeutics, Inc. (NASDAQ:PTCT) Duchenne muscular dystrophy franchise. Following Citi’s downgrade of PTC Therapeutics, Inc. (NASDAQ:PTCT) to “Neutral” and the adjustment of the price target to $29 from $55, there has been a significant price reaction in the market. The stock is currently trading at $24.28, representing a decline of 7.5%. This price movement reflects the impact of the downgrade and the concerns raised by Citi regarding the European Medicines Agency advisory committee’s recommendation regarding Translarna’s approval status. Investors are reacting to the news with a notable stock value decrease.

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