Cantor Fitzgerald Cuts PTC Therapeutics (NASDAQ:PTCT) Price Target to $112.00

PTC Therapeutics (NASDAQ:PTCT) had its target price trimmed by Cantor Fitzgerald from $113.00 to $112.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock. Cantor Fitzgerald also issued estimates for PTC Therapeutics’ FY2025 earnings at $8.50 EPS.

Other analysts also recently issued reports about the stock. Bank of America raised shares of PTC Therapeutics from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $41.00 to $55.00 in a research report on Tuesday, March 11th. Scotiabank assumed coverage on shares of PTC Therapeutics in a report on Friday, March 7th. They issued a “sector perform” rating and a $55.00 price objective for the company. Citigroup raised PTC Therapeutics from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $50.00 to $40.00 in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of PTC Therapeutics in a report on Tuesday, April 22nd. Finally, StockNews.com downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, February 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, PTC Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $61.92.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $44.23 on Wednesday. The stock has a market cap of $3.50 billion, a P/E ratio of -7.45 and a beta of 0.52. PTC Therapeutics has a 1 year low of $28.72 and a 1 year high of $58.38. The firm has a 50-day moving average of $48.86 and a 200 day moving average of $46.99.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share for the quarter, topping the consensus estimate of $0.85 by $9.19. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $437.16 million. The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned ($1.20) EPS. Research analysts expect that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 795 shares of PTC Therapeutics stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $39,829.50. Following the transaction, the executive vice president now directly owns 77,856 shares of the company’s stock, valued at $3,900,585.60. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Pierre Gravier sold 1,168 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $50.10, for a total transaction of $58,516.80. Following the completion of the sale, the chief financial officer now directly owns 75,603 shares of the company’s stock, valued at $3,787,710.30. This represents a 1.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,305 shares of company stock worth $1,682,755 in the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Diversified Trust Co boosted its stake in shares of PTC Therapeutics by 10.4% in the fourth quarter. Diversified Trust Co now owns 16,818 shares of the biopharmaceutical company’s stock worth $759,000 after acquiring an additional 1,578 shares during the period. Janney Montgomery Scott LLC grew its holdings in PTC Therapeutics by 8.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,965 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 455 shares in the last quarter. KBC Group NV raised its position in shares of PTC Therapeutics by 36.4% during the fourth quarter. KBC Group NV now owns 3,045 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 813 shares during the last quarter. R Squared Ltd bought a new position in shares of PTC Therapeutics during the fourth quarter worth $79,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in PTC Therapeutics by 10.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 16,353 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 1,558 shares in the last quarter.

About PTC Therapeutics

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.