Cantor Fitzgerald Lowers PTC Therapeutics (NASDAQ:PTCT) Price Target to $112.00

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) had its price target reduced by research analysts at Cantor Fitzgerald from $113.00 to $112.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's target price indicates a potential upside of 143.06% from the company's current price. Cantor Fitzgerald also issued estimates for PTC Therapeutics' FY2025 earnings at $8.50 EPS.

Several other equities research analysts also recently commented on the stock. Scotiabank began coverage on shares of PTC Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $55.00 target price for the company. StockNews.com downgraded shares of PTC Therapeutics from a "buy" rating to a "hold" rating in a report on Monday, February 17th. JPMorgan Chase & Co. decreased their target price on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada restated an "outperform" rating and issued a $65.00 price objective on shares of PTC Therapeutics in a research report on Tuesday, April 22nd. Finally, Bank of America raised PTC Therapeutics from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $41.00 to $55.00 in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $61.92.

PTC Therapeutics Stock Up 4.2%

Shares of NASDAQ:PTCT traded up $1.85 on Wednesday, reaching $46.08. The company had a trading volume of 641,668 shares, compared to its average volume of 851,546. PTC Therapeutics has a twelve month low of $28.72 and a twelve month high of $58.38. The stock has a market capitalization of $3.65 billion, a P/E ratio of -7.77 and a beta of 0.52. The stock has a 50-day moving average price of $48.86 and a 200 day moving average price of $47.06.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $9.19. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $437.16 million. During the same period in the prior year, the company posted ($1.20) EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts predict that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Buying and Selling at PTC Therapeutics

In related news, CEO Matthew B. Klein sold 2,804 shares of PTC Therapeutics stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total value of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at approximately $13,317,425.16. This trade represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lee Scott Golden sold 897 shares of PTC Therapeutics stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $46.95, for a total value of $42,114.15. Following the completion of the transaction, the executive vice president now owns 75,997 shares of the company's stock, valued at approximately $3,568,059.15. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,305 shares of company stock valued at $1,682,755 over the last quarter. 5.50% of the stock is currently owned by insiders.

Institutional Trading of PTC Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in PTCT. Toronto Dominion Bank acquired a new position in PTC Therapeutics during the 4th quarter worth approximately $148,363,000. Driehaus Capital Management LLC acquired a new stake in PTC Therapeutics in the 4th quarter valued at $46,993,000. Point72 Asset Management L.P. grew its stake in shares of PTC Therapeutics by 150.6% during the fourth quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock valued at $65,153,000 after acquiring an additional 867,502 shares in the last quarter. Janus Henderson Group PLC grew its stake in PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock worth $105,015,000 after purchasing an additional 455,698 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in PTC Therapeutics by 107.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 736,388 shares of the biopharmaceutical company's stock worth $33,241,000 after purchasing an additional 381,319 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.