Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) PT at $80.93

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received a consensus rating of “Moderate Buy” from the sixteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $80.9333.

A number of analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of PTC Therapeutics in a research note on Monday, December 29th. Bank of America cut their target price on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Barclays reissued an “overweight” rating and issued a $120.00 target price on shares of PTC Therapeutics in a report on Monday, February 23rd. Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, The Goldman Sachs Group lifted their target price on shares of PTC Therapeutics from $44.00 to $50.00 and gave the stock a “sell” rating in a research report on Wednesday, November 5th.

PTC Therapeutics Stock Performance

Shares of NASDAQ PTCT opened at $68.19 on Friday. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.81 and a beta of 0.51. The company has a 50 day simple moving average of $74.19 and a two-hundred day simple moving average of $68.92. PTC Therapeutics has a fifty-two week low of $35.95 and a fifty-two week high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The company had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the previous year, the firm posted ($0.85) EPS. The firm’s quarterly revenue was down 22.7% compared to the same quarter last year. On average, analysts forecast that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 4,879 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $77.44, for a total value of $377,829.76. Following the transaction, the vice president directly owned 117,659 shares of the company’s stock, valued at approximately $9,111,512.96. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Pauwels sold 40,290 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $75.43, for a total transaction of $3,039,074.70. Following the sale, the insider owned 70,373 shares of the company’s stock, valued at $5,308,235.39. This trade represents a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 167,765 shares of company stock worth $12,617,737 in the last ninety days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PTCT. Jefferies Financial Group Inc. bought a new position in shares of PTC Therapeutics during the 3rd quarter valued at approximately $97,252,000. Janus Henderson Group PLC lifted its holdings in PTC Therapeutics by 28.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock valued at $368,587,000 after purchasing an additional 1,077,776 shares in the last quarter. State Street Corp boosted its position in shares of PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after purchasing an additional 1,071,343 shares during the period. Toronto Dominion Bank boosted its holdings in PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after buying an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in PTC Therapeutics by 4,013.1% in the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after buying an additional 808,515 shares during the period.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company’s research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC’s approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.