PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $91.3571.

Several equities analysts have recently issued reports on PTCT shares. Wall Street Zen lowered PTC Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, February 21st. Barclays reaffirmed an “overweight” rating and issued a $120.00 target price on shares of PTC Therapeutics in a report on Monday, February 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $94.00 target price on shares of PTC Therapeutics in a report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of PTC Therapeutics in a report on Friday, February 20th. Finally, Citigroup raised PTC Therapeutics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $75.00 to $108.00 in a report on Tuesday.

PTC Therapeutics Stock Up 0.6%

PTCT stock opened at $75.14 on Friday. The firm has a market cap of $6.23 billion, a PE ratio of -32.25, a P/E/G ratio of 3.46 and a beta of 0.56. The business has a 50 day moving average of $70.54 and a 200-day moving average of $72.17. PTC Therapeutics has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.42. The company had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.PTC Therapeutics’s quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the prior year, the company posted $10.04 earnings per share. On average, research analysts expect that PTC Therapeutics will post 0.78 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 12,572 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the transaction, the chief executive officer directly owned 393,998 shares of the company’s stock, valued at approximately $28,742,154.10. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Mark Elliott Boulding sold 3,540 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $78.97, for a total value of $279,553.80. Following the transaction, the vice president directly owned 105,212 shares of the company’s stock, valued at approximately $8,308,591.64. This trade represents a 3.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,148 shares of company stock valued at $7,001,475 in the last quarter. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Defilade Capital Management L.P. bought a new position in PTC Therapeutics during the first quarter valued at $25,628,000. Segall Bryant & Hamill LLC lifted its position in shares of PTC Therapeutics by 287.4% during the first quarter. Segall Bryant & Hamill LLC now owns 195,380 shares of the biopharmaceutical company’s stock worth $13,311,000 after acquiring an additional 144,949 shares in the last quarter. Bank of America Corp DE lifted its position in shares of PTC Therapeutics by 31.8% during the first quarter. Bank of America Corp DE now owns 1,886,841 shares of the biopharmaceutical company’s stock worth $128,550,000 after acquiring an additional 455,284 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of PTC Therapeutics during the first quarter worth $566,000. Finally, Janus Henderson Group PLC lifted its position in shares of 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 acquiring an additional 2,342,101 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.