PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $98.50 Average Price Target from Analysts

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $98.50.

PTCT has been the topic of several recent analyst reports. Citigroup upgraded shares of PTC Therapeutics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $108.00 in a report on Tuesday, June 9th. Zacks Research downgraded shares of PTC Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price target on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Leerink Partners began coverage on shares of PTC Therapeutics in a report on Monday. They issued an “outperform” rating and a $98.00 price target for the company. Finally, Jefferies Financial Group raised shares of PTC Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th.

Insider Transactions at PTC Therapeutics

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,292 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $68.57, for a total transaction of $705,722.44. Following the sale, the chief executive officer owned 383,868 shares in the company, valued at approximately $26,321,828.76. The trade was a 2.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, Director Mary L. Smith sold 15,834 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.00, for a total value of $1,425,060.00. Following the completion of the transaction, the director directly owned 21,813 shares in the company, valued at $1,963,170. This represents a 42.06% 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 176,418 shares of company stock valued at $14,458,769 in the last quarter. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in PTC Therapeutics by 16.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 151 shares during the last quarter. PNC Financial Services Group Inc. grew its position in PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 244 shares during the last quarter. Allworth Financial LP increased its stake in PTC Therapeutics by 63.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 247 shares during the period. Measured Wealth Private Client Group LLC increased its stake in PTC Therapeutics by 5.6% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company’s stock valued at $377,000 after purchasing an additional 265 shares during the period. Finally, Evolve Private Wealth LLC raised its holdings in shares of PTC Therapeutics by 5.2% in the first quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company’s stock valued at $417,000 after buying an additional 305 shares during the last quarter.

PTC Therapeutics Stock Performance

PTCT stock opened at $68.00 on Tuesday. PTC Therapeutics has a one year low of $57.74 and a one year high of $90.87. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -117.24, a PEG ratio of 2.09 and a beta of 0.55. The firm has a 50-day simple moving average of $72.66 and a two-hundred day simple moving average of $72.15.

PTC Therapeutics (NASDAQ:PTCT) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.68. The firm had revenue of $360.52 million for the quarter, compared to the consensus estimate of $298.63 million. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 3.80%.The firm’s revenue for the quarter was up 101.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.83) EPS. As a group, equities analysts predict that PTC Therapeutics will post 1.17 earnings per share for the current fiscal year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. The company uses technologies involving RNA biology, gene therapy and small-molecule drug discovery to address conditions with limited treatment options, including rare neurological and metabolic disorders.

PTC’s commercial portfolio has included Translarna (ataluren), an investigational treatment in some markets for Duchenne muscular dystrophy associated with a nonsense mutation, and Emflaza (deflazacort), a corticosteroid approved in the United States for Duchenne muscular dystrophy.