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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $92.2857.

Several brokerages recently weighed in on PTCT. Weiss Ratings cut shares of PTC Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $76.00 to $85.00 in a research report on Wednesday, May 27th. Royal Bank Of Canada raised their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a report on Tuesday, July 7th. Finally, TD Cowen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $90.00 in a research report on Friday, May 8th.

Insider Transactions at PTC Therapeutics

In other news, CAO Christine Marie Utter sold 19,686 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the completion of the transaction, the chief accounting officer directly owned 70,199 shares of the company’s stock, valued at approximately $5,304,236.44. This represents a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mary L. Smith sold 15,834 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.00, for a total value of $1,425,060.00. Following the transaction, the director directly owned 21,813 shares of the company’s stock, valued at approximately $1,963,170. This represents a 42.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 198,662 shares of company stock valued at $16,347,994 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

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

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $76.82 on Monday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of -32.97, a price-to-earnings-growth ratio of 6.69 and a beta of 0.53. The stock’s 50-day moving average is $77.19 and its two-hundred day moving average is $72.82. PTC Therapeutics has a 1-year low of $43.17 and a 1-year high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The business had revenue of $272.55 million during the quarter, compared to analysts’ expectations of $217.42 million. During the same quarter last year, the business posted $10.04 EPS. The business’s quarterly revenue was up 43.5% compared to the same quarter last year. Equities research analysts anticipate that PTC Therapeutics will post 0.41 earnings per share for the current fiscal year.

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.