PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $82.79 Average PT from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $82.7857.

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on PTC Therapeutics from $87.00 to $82.00 and set a “sector perform” rating for the company in a research report on Friday, February 20th. TD Cowen reissued a “hold” rating on shares of PTC Therapeutics in a research note on Thursday, January 29th. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a report on Wednesday. Barclays restated an “overweight” rating and set a $120.00 target price on shares of PTC Therapeutics in a research report on Monday, February 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th.

PTC Therapeutics Price Performance

Shares of NASDAQ:PTCT opened at $66.13 on Tuesday. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 8.54 and a beta of 0.51. The business’s 50 day simple moving average is $69.75 and its 200-day simple moving average is $70.79. PTC Therapeutics has a 12 month low of $35.95 and a 12 month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($1.46). The firm had revenue of $164.68 million during the quarter, compared to analysts’ expectations of $281.45 million. PTC Therapeutics had a net margin of 39.44% and a negative return on equity of 362.45%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.85) earnings per share. On average, equities analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current year.

Insider Activity

In related news, Director Stephanie Okey sold 15,167 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total transaction of $1,061,690.00. Following the sale, the director owned 8,000 shares of the company’s stock, valued at $560,000. This trade represents a 65.47% decrease in their ownership of the stock. 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 PTC Therapeutics stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $76.35, for a total value of $916,200.00. Following the sale, the director owned 18,500 shares of the company’s stock, valued at approximately $1,412,475. This represents a 39.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 137,755 shares of company stock worth $9,945,471. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. purchased a new position in shares of PTC Therapeutics during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised 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 acquiring an additional 236 shares during the last quarter. Optiver Holding B.V. raised its holdings in PTC Therapeutics by 96.5% in the 3rd 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 last quarter. Comerica Bank lifted its stake in shares of PTC Therapeutics by 868.5% during the 3rd quarter. Comerica Bank now owns 523 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 469 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of PTC Therapeutics during the fourth quarter worth $41,000.

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.