PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $98.5455.

Several equities research analysts have weighed in on PTCT shares. Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Cantor Fitzgerald upped their target price on PTC Therapeutics from $124.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $76.00 to $85.00 in a research note on Wednesday, May 27th. Wells Fargo & Company upped their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $90.00 in a research note on Friday, May 8th.

PTC Therapeutics Trading Down 1.2%

Shares of NASDAQ PTCT opened at $71.81 on Friday. PTC Therapeutics has a 12-month low of $48.96 and a 12-month high of $90.87. The stock’s fifty day simple moving average is $77.25 and its two-hundred day simple moving average is $72.29. The stock has a market capitalization of $5.99 billion, a PE ratio of -123.81, a price-to-earnings-growth ratio of 2.24 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.24 by $0.68. PTC Therapeutics had a negative net margin of 3.80% and a negative return on equity of 362.45%. The firm had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. During the same quarter in the previous year, the business posted ($0.83) EPS. PTC Therapeutics’s revenue was up 101.5% on a year-over-year basis. On average, equities analysts predict that PTC Therapeutics will post 1.17 earnings per share for the current fiscal year.

Insider Activity

In other PTC Therapeutics news, Director Mary L. Smith sold 15,834 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the completion of the transaction, the director owned 21,813 shares in the company, valued at approximately $1,963,170. This represents a 42.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 10,292 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $68.57, for a total transaction of $705,722.44. Following the completion of the transaction, the chief executive officer owned 383,868 shares of the company’s stock, valued at approximately $26,321,828.76. This trade represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 205,343 shares of company stock valued at $16,774,704 in the last three months. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. purchased a new position in PTC Therapeutics during the fourth quarter valued at $26,000. Comerica Bank boosted its holdings in PTC Therapeutics by 868.5% in the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in PTC Therapeutics in the 4th quarter worth about $41,000. IFP Advisors Inc increased its stake in PTC Therapeutics by 68.1% during the 3rd quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 310 shares in the last quarter. Finally, Allworth Financial LP increased its stake in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock worth $48,000 after buying an additional 247 shares in the last quarter.

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.