PTC Therapeutics (NASDAQ:PTCT) Receives “Hold” Rating from Jefferies Financial Group

PTC Therapeutics (NASDAQ:PTCT)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Financial Group in a report issued on Monday,Benzinga reports. They presently have a $76.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $91.00. Jefferies Financial Group’s target price suggests a potential upside of 14.86% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Barclays reaffirmed an “overweight” rating and issued a $120.00 price target on shares of PTC Therapeutics in a report on Monday, February 23rd. Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Cantor Fitzgerald reissued an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Finally, Bank of America cut their price objective on shares of PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $82.71.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock traded up $0.04 on Monday, hitting $66.17. The company’s stock had a trading volume of 269,052 shares, compared to its average volume of 1,249,586. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 8.55 and a beta of 0.51. The firm has a fifty day moving average price of $69.75 and a 200-day moving average price of $70.87. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.46). The firm had revenue of $164.68 million for the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue was down 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.85) EPS. As a group, analysts forecast that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 3,989 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $63.38, for a total value of $252,822.82. Following the sale, the insider directly owned 2,737 shares in the company, valued at approximately $173,471.06. This trade represents a 59.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephanie Okey sold 15,167 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the completion of the sale, the director owned 8,000 shares of the company’s stock, valued at approximately $560,000. This represents a 65.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 137,755 shares of company stock valued at $9,945,471 over the last quarter. 5.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PTCT. Empowered Funds LLC bought a new stake 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 raised its holdings in shares of PTC Therapeutics by 11.5% during 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 acquiring an additional 18,504 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in PTC Therapeutics by 42.1% in the second quarter. PNC Financial Services Group Inc. now owns 995 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 295 shares during the period. Swiss National Bank lifted its holdings in shares of PTC Therapeutics by 0.7% in the 2nd quarter. Swiss National Bank now owns 135,565 shares of the biopharmaceutical company’s stock worth $6,621,000 after buying an additional 1,000 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of PTC Therapeutics by 15.6% during the second quarter. Legal & General Group Plc now owns 222,837 shares of the biopharmaceutical company’s stock valued at $10,883,000 after buying an additional 29,993 shares during the period.

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.