PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $91.36 Average PT from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average rating of “Moderate Buy” by the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $91.5714.

Several equities research analysts have recently weighed in on PTCT shares. Royal Bank Of Canada boosted their target price on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Weiss Ratings downgraded PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Morgan Stanley reissued an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. Jefferies Financial Group upgraded PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $76.00 to $85.00 in a research note on Wednesday, May 27th. Finally, TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $90.00 in a report on Friday, May 8th.

PTC Therapeutics Trading Down 0.7%

PTC Therapeutics stock opened at $88.57 on Thursday. The stock has a market cap of $7.35 billion, a P/E ratio of -38.01, a price-to-earnings-growth ratio of 4.10 and a beta of 0.53. The stock has a 50 day moving average of $74.77 and a 200-day moving average of $72.61. PTC Therapeutics has a 52 week low of $43.17 and a 52 week high of $89.85.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. During the same period in the prior year, the company posted $10.04 earnings per share. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. As a group, equities analysts predict that PTC Therapeutics will post 0.78 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, insider Eric Pauwels sold 21,277 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the sale, the insider directly owned 73,411 shares of the company’s stock, valued at approximately $5,505,825. This represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction dated 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 transaction, the vice president owned 105,272 shares in the company, valued at approximately $8,956,541.76. The trade was a 4.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 183,214 shares of company stock valued at $14,902,651. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC bought a new position in PTC Therapeutics during the 1st quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in PTC Therapeutics by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock worth $9,109,000 after purchasing an additional 18,504 shares during the last quarter. Quantbot Technologies LP grew its position in PTC Therapeutics by 280.1% in the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of PTC Therapeutics in the second quarter valued at approximately $1,661,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of PTC Therapeutics by 247.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 814 shares during 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.