PTC Therapeutics (NASDAQ:PTCT) Stock Rating Upgraded by UBS Group

PTC Therapeutics (NASDAQ:PTCT) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

A number of other equities research analysts also recently weighed in on PTCT. Truist Financial initiated coverage on shares of PTC Therapeutics in a research note on Friday. They set a “hold” rating and a $62.00 price target for the company. Cantor Fitzgerald raised their price objective on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, September 22nd. Weiss Ratings raised PTC Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Leerink Partners started coverage on PTC Therapeutics in a research note on Monday, September 14th. They set an “outperform” rating and a $98.00 price objective for the company. Finally, Morgan Stanley upped their price objective on PTC Therapeutics from $93.00 to $104.00 and gave the company an “overweight” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $95.07.

PTC Therapeutics Stock Performance

Shares of PTCT traded down $1.75 during mid-day trading on Wednesday, hitting $59.24. The company’s stock had a trading volume of 788,962 shares, compared to its average volume of 1,319,208. PTC Therapeutics has a one year low of $58.80 and a one year high of $90.87. The firm has a market capitalization of $4.94 billion, a PE ratio of -102.14, a price-to-earnings-growth ratio of 1.84 and a beta of 0.49. The stock’s 50-day moving average is $67.41 and its two-hundred day moving average is $71.73.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same period last year, the business earned ($0.83) earnings per share. Analysts expect that PTC Therapeutics will post 1.19 EPS for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Boulding sold 435 shares of the stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $64.16, for a total value of $27,909.60. Following the transaction, the vice president directly owned 105,272 shares of the company’s stock, valued at $6,754,251.52. This represents a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Glenn Steele, Jr. sold 12,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $65.16, for a total value of $781,920.00. Following the transaction, the director owned 22,500 shares in the company, valued at approximately $1,466,100. This trade represents a 34.78% decrease in their position. 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. Insiders have sold 77,370 shares of company stock worth $5,322,261 over the last 90 days. Company insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in PTCT. BlackRock Inc. acquired a new position in shares of PTC Therapeutics in the 2nd quarter worth approximately $1,139,089,000. Jupiter Topco LLC bought a new stake in PTC Therapeutics in the 2nd quarter valued at about $590,182,000. Janus Henderson Group PLC raised its position in shares of PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after purchasing an additional 2,342,101 shares during the period. Wellington Management Group LLP raised its holdings in PTC Therapeutics by 4.7% during the second quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company’s stock worth $336,743,000 after buying an additional 185,663 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in PTC Therapeutics by 31.8% in the 1st quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company’s stock valued at $128,550,000 after acquiring an additional 455,284 shares in the last quarter.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.