PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $80.93 Consensus Target Price from Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $80.9333.

Several brokerages have recently issued reports on PTCT. Barclays restated an “overweight” rating and issued a $120.00 target price on shares of PTC Therapeutics in a report on Monday, February 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of PTC Therapeutics in a report on Monday, December 29th. Wall Street Zen cut shares of PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada dropped their target price on shares of PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a report on Friday, February 20th. Finally, Wells Fargo & Company cut their target price on PTC Therapeutics from $93.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $63.33 on Friday. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50. The firm has a market cap of $5.24 billion, a PE ratio of 8.18 and a beta of 0.51. The company has a 50 day simple moving average of $73.09 and a two-hundred day simple moving average of $69.08.

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 analysts’ consensus estimates 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 company had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. During the same period in the previous year, the company earned ($0.85) EPS. PTC Therapeutics’s quarterly revenue was down 22.7% on a year-over-year basis. As a group, research analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 7,371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $69.36, for a total transaction of $511,252.56. Following the completion of the transaction, the chief executive officer owned 387,082 shares of the company’s stock, valued at approximately $26,848,007.52. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark Elliott Boulding sold 3,019 shares of PTC Therapeutics stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $69.48, for a total transaction of $209,760.12. Following the transaction, the vice president owned 105,212 shares of the company’s stock, valued at $7,310,129.76. The trade was a 2.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 163,604 shares of company stock valued at $12,289,056 over the last three months. 5.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its stake in PTC Therapeutics by 101.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 236 shares in the last quarter. Optiver Holding B.V. increased its stake in PTC Therapeutics by 96.5% during the 3rd quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 249 shares in the last quarter. Comerica Bank raised its holdings in PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 469 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new position in shares of PTC Therapeutics in the fourth quarter worth approximately $41,000.

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.