PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $92.29 Consensus Target Price from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $93.8333.

Several equities research analysts have recently commented on the company. Weiss Ratings cut PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Cantor Fitzgerald upped their price target on PTC Therapeutics from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Zacks Research upgraded PTC Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Raymond James Financial assumed coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price objective for the company. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $74.49 on Monday. The firm has a market cap of $6.18 billion, a P/E ratio of -31.97, a P/E/G ratio of 6.56 and a beta of 0.53. The firm has a 50 day simple moving average of $77.47 and a 200 day simple moving average of $72.79. PTC Therapeutics has a fifty-two week low of $43.17 and a fifty-two week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter in the previous year, the company posted $10.04 EPS. PTC Therapeutics’s revenue was up 43.5% on a year-over-year basis. On average, sell-side analysts expect that PTC Therapeutics will post 0.41 EPS for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, insider Eric Pauwels sold 21,277 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total value of $1,595,775.00. Following the transaction, the insider directly owned 73,411 shares of the company’s stock, valued at approximately $5,505,825. This trade represents a 22.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the transaction, the director directly owned 21,813 shares in the company, valued at approximately $1,963,170. The trade was a 42.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 198,662 shares of company stock worth $16,347,994. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in shares of PTC Therapeutics in the 1st quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in PTC Therapeutics by 11.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company’s stock valued at $9,109,000 after purchasing an additional 18,504 shares during the last quarter. Quantbot Technologies LP increased its holdings in PTC Therapeutics by 280.1% in the second quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in PTC Therapeutics in the second quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC lifted its stake in PTC Therapeutics by 247.4% in 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 period.

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.