Morgan Stanley Issues Pessimistic Forecast for PTC Therapeutics (NASDAQ:PTCT) Stock Price

PTC Therapeutics (NASDAQ:PTCT) had its price target cut by Morgan Stanley from $76.00 to $71.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

PTCT has been the topic of a number of other reports. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a report on Friday, August 8th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a report on Friday, August 8th. Barclays upped their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Citigroup upped their price objective on PTC Therapeutics from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald upped their price objective on PTC Therapeutics from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.15.

PTC Therapeutics Trading Up 3.4%

NASDAQ PTCT opened at $50.57 on Wednesday. The stock’s 50 day moving average is $48.86 and its 200 day moving average is $49.04. PTC Therapeutics has a 12 month low of $30.41 and a 12 month high of $58.38. The stock has a market cap of $4.02 billion, a PE ratio of 7.26 and a beta of 0.54.

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

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction 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 owned 337,767 shares in the company, valued at approximately $17,476,064.58. This represents a 3.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer owned 71,920 shares in the company, valued at $3,557,163.20. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in PTC Therapeutics during the 1st quarter valued at $595,000. Allspring Global Investments Holdings LLC bought a new position in PTC Therapeutics in the 1st quarter valued at $524,000. Sector Gamma AS grew its position in PTC Therapeutics by 41.4% in the 1st quarter. Sector Gamma AS now owns 92,250 shares of the biopharmaceutical company’s stock valued at $4,701,000 after acquiring an additional 27,000 shares during the last quarter. Deutsche Bank AG grew its position in PTC Therapeutics by 262.1% in the 1st quarter. Deutsche Bank AG now owns 341,724 shares of the biopharmaceutical company’s stock valued at $17,414,000 after acquiring an additional 247,346 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in PTC Therapeutics in the 1st quarter valued at $641,000.

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.