PTC Therapeutics (NASDAQ:PTCT) Earns “Hold” Rating from Jefferies Financial Group

PTC Therapeutics (NASDAQ:PTCT)‘s stock had its “hold” rating reiterated by Jefferies Financial Group in a research note issued on Monday,Benzinga reports. They presently have a $76.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $91.00. Jefferies Financial Group’s price objective would suggest a potential upside of 14.86% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Truist Financial upgraded shares of PTC Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 25th. Morgan Stanley raised their target price on PTC Therapeutics from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded PTC Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Barclays reiterated an “overweight” rating and set a $120.00 price target on shares of PTC Therapeutics in a research report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PTC Therapeutics in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PTC Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $82.71.

PTC Therapeutics Stock Up 0.1%

PTCT stock traded up $0.04 during mid-day trading on Monday, reaching $66.17. The company had a trading volume of 269,052 shares, compared to its average volume of 1,249,586. PTC Therapeutics has a one year low of $35.95 and a one year high of $87.50. The stock has a market capitalization of $5.48 billion, a P/E ratio of 8.55 and a beta of 0.51. The stock’s 50-day simple moving average is $69.75 and its two-hundred day simple moving average is $70.87.

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 analysts’ consensus estimates of ($0.21) by ($1.46). The firm had revenue of $164.68 million during the quarter, compared to analyst estimates of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The firm’s revenue was down 22.7% on a year-over-year basis. During the same period last year, the business earned ($0.85) EPS. On average, research analysts forecast that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, Director Stephanie Okey sold 15,167 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $70.00, for a total value of $1,061,690.00. Following the completion of the transaction, the director directly owned 8,000 shares in the company, valued at approximately $560,000. This trade represents a 65.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew B. Klein sold 8,089 shares of the business’s stock in a transaction dated Tuesday, December 30th. The stock was sold at an average price of $76.64, for a total value of $619,940.96. Following the sale, the chief executive officer owned 341,875 shares in the company, valued at approximately $26,201,300. This trade represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 137,755 shares of company stock worth $9,945,471. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTCT. Jefferies Financial Group Inc. acquired a new position in shares of PTC Therapeutics in the 3rd quarter valued at about $97,252,000. Janus Henderson Group PLC increased its holdings in PTC Therapeutics by 28.6% in the fourth quarter. Janus Henderson Group PLC now owns 4,851,332 shares of the biopharmaceutical company’s stock worth $368,587,000 after purchasing an additional 1,077,776 shares in the last quarter. State Street Corp lifted its stake in PTC Therapeutics by 34.2% in the fourth quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company’s stock valued at $319,497,000 after buying an additional 1,071,343 shares during the period. Toronto Dominion Bank increased its stake in shares of PTC Therapeutics by 27.5% in the 4th quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company’s stock valued at $314,339,000 after acquiring an additional 891,690 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in PTC Therapeutics by 4,013.1% in the fourth quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company’s stock worth $62,945,000 after acquiring an additional 808,515 shares in the last quarter.

About PTC Therapeutics

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.