PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $95.07.

A number of analysts have issued reports on the stock. Leerink Partners initiated coverage on shares of PTC Therapeutics in a report on Monday, September 14th. They issued an “outperform” rating and a $98.00 price objective for the company. Wall Street Zen cut shares of PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 10th. Truist Financial initiated coverage on shares of PTC Therapeutics in a report on Friday. They set a “hold” rating and a $62.00 target price on the stock. Cantor Fitzgerald lifted their price target on shares of PTC Therapeutics from $130.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, September 22nd. Finally, Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th.

PTC Therapeutics Stock Down 2.9%

Shares of PTCT traded down $1.75 during midday trading on Friday, reaching $59.24. 788,962 shares of the stock were exchanged, compared to its average volume of 1,319,208. The stock’s 50 day simple moving average is $67.41 and its 200 day simple moving average is $71.73. The company has a market cap of $4.94 billion, a P/E ratio of -102.14, a PEG ratio of 1.84 and a beta of 0.49. PTC Therapeutics has a twelve month low of $58.80 and a twelve month high of $90.87.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.24 by $0.68. The business had revenue of $360.52 million during the quarter, compared to analyst estimates of $298.63 million. During the same quarter last year, the company posted ($0.83) earnings per share. The company’s revenue was up 101.5% on a year-over-year basis. As a group, analysts predict that PTC Therapeutics will post 1.19 earnings per share for the current year.

Insider Buying and Selling

In other PTC Therapeutics news, VP Mark Boulding sold 435 shares of PTC Therapeutics stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $64.16, for a total value of $27,909.60. Following the completion of the transaction, the vice president directly owned 105,272 shares of the company’s stock, valued at $6,754,251.52. The trade was a 0.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 2,500 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $59.61, for a total value of $149,025.00. Following the sale, the director owned 1,291,594 shares of the company’s stock, valued at approximately $76,991,918.34. The trade was a 0.19% 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 77,370 shares of company stock valued at $5,322,261 over the last 90 days. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in PTC Therapeutics during the second quarter worth about $1,139,089,000. Jupiter Topco LLC acquired a new stake in PTC Therapeutics during the second quarter worth about $590,182,000. Janus Henderson Group PLC grew its stake in PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company’s stock worth $489,997,000 after buying an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP increased its holdings in PTC Therapeutics by 4.7% in the 2nd quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company’s stock valued at $336,743,000 after buying an additional 185,663 shares during the period. Finally, William Blair Investment Management LLC bought a new position in PTC Therapeutics in the 2nd quarter valued at about $140,520,000.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company’s commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.