PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Consensus Rating of “Moderate Buy” by Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $89.00.

Several research firms have recently commented on PTCT. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, February 21st. Royal Bank Of Canada boosted their price target on PTC Therapeutics from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Bank of America reduced their price target on PTC Therapeutics from $97.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Raymond James Financial began coverage on PTC Therapeutics in a research report on Friday, April 10th. They issued an “outperform” rating and a $108.00 price target for the company. Finally, TD Cowen raised PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th.

Insider Transactions at PTC Therapeutics

In related news, insider Neil Gregory Almstead sold 52,003 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $69.04, for a total transaction of $3,590,287.12. Following the transaction, the insider directly owned 60,137 shares of the company’s stock, valued at $4,151,858.48. This represents a 46.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 15,167 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $70.00, for a total value of $1,061,690.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at $560,000. This represents a 65.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 94,700 shares of company stock worth $6,637,971. Company insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC increased its position in PTC Therapeutics by 287.4% during the 1st quarter. Segall Bryant & Hamill LLC now owns 195,380 shares of the biopharmaceutical company’s stock valued at $13,311,000 after buying an additional 144,949 shares in the last quarter. Bank of America Corp DE increased its position in PTC Therapeutics by 31.8% during 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 buying an additional 455,284 shares in the last quarter. Edgestream Partners L.P. acquired a new position in PTC Therapeutics during the 1st quarter valued at about $566,000. Janus Henderson Group PLC increased its position in PTC Therapeutics by 48.3% during the 1st quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock valued at $489,997,000 after buying an additional 2,342,101 shares in the last quarter. Finally, Amundi acquired a new position in PTC Therapeutics during the 1st quarter valued at about $307,000.

PTC Therapeutics Trading Up 0.5%

Shares of PTCT stock opened at $70.97 on Friday. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -30.46, a P/E/G ratio of 5.99 and a beta of 0.56. PTC Therapeutics has a twelve month low of $43.17 and a twelve month high of $87.50. The stock has a fifty day simple moving average of $69.90 and a two-hundred day simple moving average of $72.27.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.42. The firm had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the previous year, the company posted $10.04 EPS. Research analysts predict that PTC Therapeutics will post 0.43 EPS for the current fiscal year.

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.