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

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $80.6667.

Several research analysts have commented on the stock. TD Cowen reiterated a “hold” rating on shares of PTC Therapeutics in a report on Thursday, January 29th. Wall Street Zen raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Jefferies Financial Group upped their price target on PTC Therapeutics from $63.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Barclays raised PTC Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $119.00 in a report on Tuesday, January 27th. Finally, The Goldman Sachs Group raised their price objective on PTC Therapeutics from $44.00 to $50.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th.

Insider Buying and Selling

In other PTC Therapeutics news, insider Neil Gregory Almstead sold 71,928 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $83.44, for a total transaction of $6,001,672.32. Following the completion of the transaction, the insider owned 100,625 shares of the company’s stock, valued at $8,396,150. The trade was a 41.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 12,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $76.35, for a total transaction of $916,200.00. Following the sale, the director owned 18,500 shares of the company’s stock, valued at $1,412,475. This trade represents a 39.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 291,016 shares of company stock valued at $23,050,330. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PTC Therapeutics

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in PTC Therapeutics by 101.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 469 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 236 shares during the last quarter. Optiver Holding B.V. boosted its position in shares of PTC Therapeutics by 96.5% in the third quarter. Optiver Holding B.V. now owns 507 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 249 shares during the period. Comerica Bank grew its stake in shares of PTC Therapeutics by 868.5% in the third quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 469 shares during the last quarter. Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics in the fourth quarter worth $41,000. Finally, IFP Advisors Inc increased its position in PTC Therapeutics by 68.1% during the third quarter. IFP Advisors Inc now owns 765 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 310 shares during the period.

PTC Therapeutics Stock Up 3.2%

PTC Therapeutics stock opened at $74.68 on Monday. PTC Therapeutics has a 52-week low of $35.95 and a 52-week high of $87.50. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 8.72 and a beta of 0.48. The firm has a 50-day moving average price of $76.08 and a two-hundred day moving average price of $66.38.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.19) by $1.39. PTC Therapeutics had a negative return on equity of 194.11% and a net margin of 42.25%.The company had revenue of $211.01 million for the quarter, compared to analysts’ expectations of $177.42 million. During the same quarter in the previous year, the company posted ($1.39) earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that PTC Therapeutics will post -4.52 earnings per share for the current 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.