PTC Therapeutics’ (PTCT) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of PTC Therapeutics (NASDAQ:PTCT) in a report released on Wednesday morning,Benzinga reports. They currently have a $118.00 price objective on the biopharmaceutical company’s stock.

PTCT has been the topic of several other reports. Barclays raised their target price on shares of PTC Therapeutics from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. Bank of America decreased their target price on shares of PTC Therapeutics from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Cowen reissued a “hold” rating on shares of PTC Therapeutics in a report on Friday, August 8th. Wells Fargo & Company decreased their target price on shares of PTC Therapeutics from $79.00 to $73.00 and set an “overweight” rating on the stock in a report on Wednesday, August 20th. Finally, Robert W. Baird set a $70.00 target price on shares of PTC Therapeutics in a report on Friday, August 8th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, PTC Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $69.00.

PTC Therapeutics Stock Up 6.0%

Shares of PTC Therapeutics stock opened at $55.55 on Wednesday. PTC Therapeutics has a twelve month low of $30.41 and a twelve month high of $58.38. The company has a 50-day simple moving average of $48.92 and a two-hundred day simple moving average of $49.09. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 7.97 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business had revenue of $178.88 million during the quarter, compared to analysts’ expectations of $173.01 million. During the same quarter in the previous year, the company earned ($1.29) EPS. The business’s revenue was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, Director Allan Steven Jacobson sold 1,667 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $50.15, for a total transaction of $83,600.05. Following the sale, the director directly owned 17,451 shares of the company’s stock, valued at $875,167.65. The trade was a 8.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew B. Klein sold 10,739 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the sale, the chief executive officer directly owned 337,767 shares in the company, valued at $17,476,064.58. The trade was a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,589 shares of company stock valued at $847,277 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP acquired a new position in shares of PTC Therapeutics in the 4th quarter worth approximately $4,742,000. Northern Trust Corp boosted its stake in shares of PTC Therapeutics by 7.8% in the 4th quarter. Northern Trust Corp now owns 727,976 shares of the biopharmaceutical company’s stock valued at $32,861,000 after purchasing an additional 52,714 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at $551,000. Cubist Systematic Strategies LLC boosted its stake in shares of PTC Therapeutics by 133.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 141,410 shares of the biopharmaceutical company’s stock valued at $6,383,000 after purchasing an additional 80,736 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in shares of PTC Therapeutics in the 4th quarter valued at $46,993,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.