PTC Therapeutics (NASDAQ:PTCT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PTC Therapeutics (NASDAQ:PTCT) from a hold rating to a strong-buy rating in a report released on Saturday morning.

PTCT has been the topic of several other research reports. Morgan Stanley boosted their target price on PTC Therapeutics from $93.00 to $104.00 and gave the stock an “overweight” rating in a report on Friday. Wells Fargo & Company upped their price target on shares of PTC Therapeutics from $93.00 to $106.00 and gave the company an “overweight” rating in a report on Friday. Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Finally, Jefferies Financial Group upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.75.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $68.11 on Friday. PTC Therapeutics has a 1-year low of $43.17 and a 1-year high of $90.87. The business’s fifty day moving average price is $77.56 and its two-hundred day moving average price is $72.66. The company has a market capitalization of $5.65 billion, a P/E ratio of -117.43, a PEG ratio of 5.92 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.68. The company had revenue of $360.52 million during the quarter, compared to analysts’ expectations of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The company’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.83) earnings per share. On average, research analysts expect that PTC Therapeutics will post 0.41 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 2,464 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.25, for a total value of $222,376.00. Following the transaction, the insider owned 60,299 shares in the company, valued at approximately $5,441,984.75. This represents a 3.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Elliott Boulding sold 5,079 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $85.08, for a total transaction of $432,121.32. Following the completion of the sale, the vice president owned 105,272 shares of the company’s stock, valued at approximately $8,956,541.76. The trade was a 4.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 198,662 shares of company stock valued at $16,347,994 over the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTCT. Vanguard Group Inc. raised its stake in shares of PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock worth $668,691,000 after purchasing an additional 514,204 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PTC Therapeutics by 48.3% in the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after buying an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of PTC Therapeutics by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock valued at $301,856,000 after buying an additional 224,481 shares in the last quarter. State Street Corp increased its holdings in 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 buying an additional 1,071,343 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares in the last quarter.

About PTC Therapeutics

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.