PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $33.67 Consensus PT from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given an average recommendation of “Hold” by the fourteen brokerages that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $35.67.

PTCT has been the subject of several research analyst reports. Raymond James upgraded PTC Therapeutics from an “underperform” rating to a “market perform” rating in a report on Monday. Jefferies Financial Group lifted their price objective on PTC Therapeutics from $35.00 to $46.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on PTC Therapeutics from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday. The Goldman Sachs Group boosted their price target on PTC Therapeutics from $18.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday. Finally, TD Cowen cut their price target on PTC Therapeutics from $32.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, March 1st.

PTC Therapeutics Price Performance

PTCT opened at $38.64 on Friday. PTC Therapeutics has a 1 year low of $17.53 and a 1 year high of $59.75. The stock has a 50-day moving average price of $29.63 and a 200-day moving average price of $27.33. The firm has a market cap of $2.96 billion, a PE ratio of -5.03 and a beta of 0.63.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported ($1.20) EPS for the quarter, topping the consensus estimate 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. As a group, sell-side analysts anticipate that PTC Therapeutics will post -5.36 EPS for the current year.

Insider Activity at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 3,361 shares of the business’s stock in a transaction that occurred 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 directly owns 225,807 shares in the company, valued at approximately $5,620,336.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 4,849 shares of company stock worth $124,107. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTCT. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PTC Therapeutics by 12.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,465 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 1,509 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in PTC Therapeutics by 12.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,075 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 559 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in PTC Therapeutics by 5.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 18,941 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 922 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of PTC Therapeutics by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 29,115 shares of the biopharmaceutical company’s stock worth $652,000 after acquiring an additional 692 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of PTC Therapeutics by 317.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,656 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 2,019 shares in the last quarter.

About PTC Therapeutics

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.