PTC Therapeutics (NASDAQ:PTCT) Upgraded at Wall Street Zen

PTC Therapeutics (NASDAQ:PTCT) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently issued reports on PTCT. Wells Fargo & Company lifted their price target on shares of PTC Therapeutics from $73.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday. Jefferies Financial Group boosted their price target on PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Barclays raised their price objective on PTC Therapeutics from $46.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Cowen restated a “hold” rating on shares of PTC Therapeutics in a report on Wednesday, November 5th. Nine research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $76.00.

PTC Therapeutics Stock Up 1.0%

NASDAQ PTCT opened at $76.74 on Friday. The stock has a market cap of $6.16 billion, a PE ratio of 8.96, a P/E/G ratio of 0.27 and a beta of 0.49. PTC Therapeutics has a fifty-two week low of $35.95 and a fifty-two week high of $87.50. The business has a 50 day moving average price of $75.68 and a two-hundred day moving average price of $61.79.

PTC Therapeutics (NASDAQ:PTCT) last posted its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a net margin of 42.25% and a negative return on equity of 194.11%. The company had revenue of $211.01 million for the quarter, compared to analyst estimates of $177.42 million. During the same quarter last year, the firm posted ($1.39) earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Activity

In other PTC Therapeutics news, Director Emma Reeve sold 15,666 shares of the stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $69.50, for a total transaction of $1,088,787.00. Following the sale, the director directly owned 6,666 shares of the company’s stock, valued at approximately $463,287. This represents a 70.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew B. Klein sold 8,089 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $76.64, for a total transaction of $619,940.96. Following the completion of the transaction, the chief executive officer owned 341,875 shares in the company, valued at approximately $26,201,300. The trade was a 2.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 251,202 shares of company stock valued at $19,803,684 over the last three months. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in PTC Therapeutics by 68.1% in the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares during the last quarter. Cambria Investment Management L.P. grew its holdings in shares of PTC Therapeutics by 24.9% during the third quarter. Cambria Investment Management L.P. now owns 11,634 shares of the biopharmaceutical company’s stock valued at $714,000 after purchasing an additional 2,322 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of PTC Therapeutics during the 3rd quarter worth approximately $508,000. Danske Bank A S bought a new stake in shares of PTC Therapeutics in the 3rd quarter worth approximately $1,152,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of PTC Therapeutics by 55.9% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 33,984 shares of the biopharmaceutical company’s stock worth $2,060,000 after purchasing an additional 12,191 shares during the last quarter.

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.