PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $65.73 Consensus PT from Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been assigned an average rating of “Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $65.73.

Several analysts have issued reports on the company. Cantor Fitzgerald dropped their target price on PTC Therapeutics from $81.00 to $75.00 and set an “overweight” rating for the company in a report on Friday, February 26th. William Blair reaffirmed a “buy” rating on shares of PTC Therapeutics in a research note on Thursday, June 3rd. Credit Suisse Group started coverage on PTC Therapeutics in a research note on Monday, April 26th. They issued a “neutral” rating and a $54.00 price target on the stock. Truist decreased their price target on PTC Therapeutics from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 17th. Finally, Royal Bank of Canada raised PTC Therapeutics from an “underperform” rating to a “sector perform” rating and set a $47.00 price target on the stock in a research note on Monday, March 29th. They noted that the move was a valuation call.

Shares of NASDAQ:PTCT opened at $43.17 on Tuesday. The company has a current ratio of 4.47, a quick ratio of 4.41 and a debt-to-equity ratio of 3.80. The company has a fifty day moving average of $42.58. The stock has a market cap of $3.04 billion, a PE ratio of -6.42 and a beta of 1.00. PTC Therapeutics has a 52-week low of $37.12 and a 52-week high of $70.82.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Tuesday, May 4th. The biopharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.59) by ($0.24). The company had revenue of $117.94 million during the quarter, compared to analysts’ expectations of $98.77 million. PTC Therapeutics had a negative net margin of 105.50% and a negative return on equity of 95.96%. The firm’s quarterly revenue was up 72.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.81) earnings per share. Analysts predict that PTC Therapeutics will post -7.16 EPS for the current year.

In related news, insider Eric Pauwels sold 786 shares of the stock in a transaction dated Monday, April 19th. The stock was sold at an average price of $48.17, for a total transaction of $37,861.62. Following the transaction, the insider now owns 35,701 shares of the company’s stock, valued at approximately $1,719,717.17. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Tygh Capital Management Inc. raised its position in PTC Therapeutics by 0.9% in the 4th quarter. Tygh Capital Management Inc. now owns 37,140 shares of the biopharmaceutical company’s stock valued at $2,267,000 after purchasing an additional 348 shares in the last quarter. Nisa Investment Advisors LLC raised its position in PTC Therapeutics by 18.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,535 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 400 shares in the last quarter. Sei Investments Co. raised its position in PTC Therapeutics by 1.0% in the 4th quarter. Sei Investments Co. now owns 57,937 shares of the biopharmaceutical company’s stock valued at $3,536,000 after purchasing an additional 571 shares in the last quarter. Duality Advisers LP raised its position in PTC Therapeutics by 2.7% in the 4th quarter. Duality Advisers LP now owns 21,634 shares of the biopharmaceutical company’s stock valued at $1,320,000 after purchasing an additional 574 shares in the last quarter. Finally, Arizona State Retirement System raised its position in PTC Therapeutics by 3.5% in the 4th quarter. Arizona State Retirement System now owns 17,671 shares of the biopharmaceutical company’s stock valued at $1,078,000 after purchasing an additional 597 shares in the last quarter.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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Analyst Recommendations for PTC Therapeutics (NASDAQ:PTCT)

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