PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Average Recommendation of “Moderate Buy” from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $91.3571.

A number of research analysts recently issued reports on PTCT shares. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Jefferies Financial Group raised PTC Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $76.00 to $85.00 in a research report on Wednesday, May 27th. Morgan Stanley restated an “overweight” rating and issued a $94.00 price objective on shares of PTC Therapeutics in a report on Friday, May 8th. TD Cowen upgraded shares of PTC Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Friday, May 8th. Finally, Truist Financial upgraded PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th.

PTC Therapeutics Price Performance

Shares of PTCT opened at $81.35 on Thursday. The business’s 50 day simple moving average is $73.13 and its 200-day simple moving average is $72.24. The company has a market capitalization of $6.75 billion, a P/E ratio of -34.91, a PEG ratio of 3.75 and a beta of 0.53. PTC Therapeutics has a one year low of $43.17 and a one year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.42. The business had revenue of $272.55 million for the quarter, compared to analysts’ expectations of $217.42 million. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. PTC Therapeutics’s revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.04 earnings per share. On average, sell-side analysts anticipate that PTC Therapeutics will post 0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, VP Mark Elliott Boulding sold 10,462 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $78.65, for a total value of $822,836.30. Following the transaction, the vice president directly owned 105,272 shares of the company’s stock, valued at $8,279,642.80. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christine Marie Utter sold 19,686 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the transaction, the chief accounting officer owned 70,199 shares of the company’s stock, valued at approximately $5,304,236.44. This represents a 21.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 133,626 shares of company stock valued at $10,534,138 over the last 90 days. 5.50% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 151 shares in the last quarter. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 8.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 244 shares in the last quarter. Allworth Financial LP increased its position in shares of PTC Therapeutics by 63.8% during the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 247 shares during the last quarter. Measured Wealth Private Client Group LLC raised its stake in shares of PTC Therapeutics by 5.6% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock worth $377,000 after purchasing an additional 265 shares during the period. Finally, Evolve Private Wealth LLC raised its position in PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock worth $417,000 after acquiring an additional 305 shares during the period.

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.