PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives Consensus Rating of “Hold” from Brokerages

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been assigned an average rating of “Hold” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $35.67.

Several equities analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, March 1st. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of PTC Therapeutics in a research report on Friday, April 12th. Citigroup upped their target price on PTC Therapeutics from $18.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on PTC Therapeutics from $18.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on PTC Therapeutics from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday.

Insider Buying and Selling at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares of the company’s stock, valued at approximately $5,620,336.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other PTC Therapeutics news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $24.89, for a total transaction of $83,655.29. Following the completion of the transaction, the chief executive officer now owns 225,807 shares of the company’s stock, valued at $5,620,336.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerome B. Zeldis sold 20,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $38.24, for a total transaction of $764,800.00. Following the completion of the transaction, the director now directly owns 14,500 shares of the company’s stock, valued at approximately $554,480. The disclosure for this sale can be found here. Insiders sold a total of 24,849 shares of company stock worth $888,907 over the last three months. Corporate insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PTCT. Hexagon Capital Partners LLC raised its position in PTC Therapeutics by 132.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 979 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 557 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of PTC Therapeutics in the first quarter valued at approximately $46,000. Nisa Investment Advisors LLC raised its holdings in PTC Therapeutics by 317.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 2,019 shares during the last quarter. Headlands Technologies LLC boosted its position in PTC Therapeutics by 248.0% during the 4th quarter. Headlands Technologies LLC now owns 4,684 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 3,338 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in PTC Therapeutics by 268.9% during the 1st quarter. Lazard Asset Management LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 4,741 shares during the last quarter.

PTC Therapeutics Price Performance

PTCT opened at $37.20 on Friday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -4.84 and a beta of 0.63. The business’s 50-day moving average price is $29.95 and its two-hundred day moving average price is $27.48. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $46.76.

PTC Therapeutics (NASDAQ:PTCT) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.01. The business had revenue of $210.12 million during the quarter, compared to the consensus estimate of $160.27 million. Sell-side analysts anticipate that PTC Therapeutics will post -5.27 earnings per share for the current fiscal year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines to patients with rare disorders in the United States and internationally. The company offers Translarna and Emflaza for the treatment of Duchenne muscular dystrophy; Upstaza to treat aromatic l-amino acid decarboxylas (AADC) deficiency, a central nervous system disorder; Tegsedi and Waylivra for the treatment of rare diseases; and Evrysdi to treat spinal muscular atrophy (SMA) in adults and children.