Brokerages Set PTC Therapeutics, Inc. (NASDAQ:PTCT) Target Price at $82.79

PTC Therapeutics, Inc. (NASDAQ:PTCT) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $82.7857.

Several equities research analysts have issued reports on PTCT shares. Barclays reaffirmed an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research note on Monday, February 23rd. Truist Financial raised shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday. Wells Fargo & Company lowered their price target on shares of PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a research note on Friday, February 20th. Finally, TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th.

Insider Buying and Selling at PTC Therapeutics

In related news, EVP Lee Scott Golden sold 10,000 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the executive vice president owned 79,944 shares in the company, valued at approximately $5,066,850.72. This trade represents a 11.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew B. Klein sold 8,089 shares of the business’s stock in a transaction on Tuesday, December 30th. The stock was sold at an average price of $76.64, for a total value of $619,940.96. Following the transaction, the chief executive officer directly owned 341,875 shares in the company, valued at $26,201,300. This trade represents a 2.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 137,755 shares of company stock worth $9,945,471. 5.50% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of PTC Therapeutics by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 8,803,203 shares of the biopharmaceutical company’s stock valued at $668,691,000 after acquiring an additional 514,204 shares during the last quarter. Wellington Management Group LLP increased its position in PTC Therapeutics by 4.8% during the third quarter. Wellington Management Group LLP now owns 4,918,619 shares of the biopharmaceutical company’s stock worth $301,856,000 after purchasing an additional 224,481 shares during the last quarter. Janus Henderson Group PLC increased its position in PTC Therapeutics by 28.6% during the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after purchasing an additional 1,077,776 shares during the last quarter. State Street Corp raised its stake in PTC Therapeutics by 34.2% during the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock worth $319,497,000 after purchasing an additional 1,071,343 shares during the period. Finally, Toronto Dominion Bank raised its stake in PTC Therapeutics by 27.5% during the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock worth $314,339,000 after purchasing an additional 891,690 shares during the period.

PTC Therapeutics Price Performance

NASDAQ PTCT opened at $67.00 on Tuesday. The stock’s 50 day simple moving average is $69.88 and its 200-day simple moving average is $70.64. The company has a market cap of $5.55 billion, a PE ratio of 8.66 and a beta of 0.51. PTC Therapeutics has a 1-year low of $35.95 and a 1-year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.46). PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The firm had revenue of $164.68 million for the quarter, compared to analysts’ expectations of $281.45 million. During the same quarter in the previous year, the firm posted ($0.85) earnings per share. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. On average, equities research analysts anticipate that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

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.