PTC Therapeutics (NASDAQ:PTCT) Stock Rating Raised to Strong-Buy at UBS Group

UBS Group upgraded shares of PTC Therapeutics (NASDAQ:PTCT) to a strong-buy rating in a report released on Wednesday morning,Zacks reports.

PTCT has been the subject of several other reports. Wall Street Zen downgraded PTC Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Zacks Research downgraded PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Wells Fargo & Company boosted their target price on PTC Therapeutics from $106.00 to $109.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. Leerink Partners began coverage on PTC Therapeutics in a report on Monday, September 14th. They issued an “outperform” rating and a $98.00 target price on the stock. Finally, Royal Bank Of Canada dropped their price target on PTC Therapeutics from $85.00 to $75.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.07.

PTC Therapeutics Stock Performance

PTCT traded down $1.75 on Wednesday, hitting $59.24. 788,962 shares of the company were exchanged, compared to its average volume of 1,319,208. PTC Therapeutics has a fifty-two week low of $58.80 and a fifty-two week high of $90.87. The firm has a market capitalization of $4.94 billion, a P/E ratio of -102.14, a price-to-earnings-growth ratio of 1.84 and a beta of 0.49. The business’s fifty day moving average is $67.41 and its 200 day moving average is $71.73.

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

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, Director Glenn Steele, Jr. sold 12,000 shares of the firm’s stock in a transaction on Wednesday, September 30th. The stock was sold at an average price of $65.16, for a total transaction of $781,920.00. Following the completion of the transaction, the director owned 22,500 shares of the company’s stock, valued at approximately $1,466,100. This trade represents a 34.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Mark Boulding sold 435 shares of the business’s 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 approximately $6,754,251.52. This trade represents a 0.41% 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. In the last 90 days, insiders have sold 77,370 shares of company stock worth $5,322,261. 5.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in shares of PTC Therapeutics by 48.7% during the 3rd quarter. Avior Wealth Management LLC now owns 5,622 shares of the biopharmaceutical company’s stock worth $364,000 after purchasing an additional 1,842 shares during the last quarter. Sacks & Associates LLC acquired a new position in shares of PTC Therapeutics in the third quarter valued at approximately $251,000. Private Capital Advisors Inc. purchased a new position in shares of PTC Therapeutics during the third quarter valued at approximately $458,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of PTC Therapeutics by 1.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,730 shares of the biopharmaceutical company’s stock valued at $1,120,000 after buying an additional 237 shares during the period. Finally, Tidal Investments LLC purchased a new position in shares of PTC Therapeutics during the second quarter valued at approximately $211,000.

About PTC Therapeutics

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.