PTC Therapeutics, Inc. (NASDAQ:PTCT) Stock Has Consensus Target Price of $98.25 According to Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on PTC Therapeutics, with 10 buy, one strong-buy, two hold and two sell ratings. The average 12-month price target is $98.25, well above the reported $64.70 opening price.
• PTC Therapeutics exceeded quarterly expectations, reporting $0.92 EPS versus the $0.24 consensus and $360.52 million in revenue versus $298.63 million expected. Revenue increased 101.5% year over year.
• Institutional interest increased, including new positions by BlackRock worth approximately $1.14 billion and Jupiter Topco worth $590.2 million, while insiders sold 74,678 shares valued at about $5.16 million over the past 90 days.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $98.25.

Several research firms recently weighed in on PTCT. Wells Fargo & Company raised their price objective on PTC Therapeutics from $106.00 to $109.00 and gave the company an "overweight" rating in a research note on Thursday, August 13th. Leerink Partners assumed coverage on PTC Therapeutics in a research report on Monday, September 14th. They set an "outperform" rating and a $98.00 target price on the stock. Morgan Stanley boosted their target price on PTC Therapeutics from $93.00 to $104.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings raised PTC Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a report on Thursday. Finally, Zacks Research cut PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th.

PTC Therapeutics Trading Up 3.4%

PTCT stock opened at $64.70 on Friday. PTC Therapeutics has a 52 week low of $61.23 and a 52 week high of $90.87. The company has a market cap of $5.40 billion, a P/E ratio of -111.55, a P/E/G ratio of 1.93 and a beta of 0.49. The company's 50-day moving average price is $68.37 and its 200 day moving average price is $71.92.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.68. The company had revenue of $360.52 million for the quarter, compared to analyst estimates of $298.63 million. PTC Therapeutics's revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.83) earnings per share. On average, equities research analysts expect that PTC Therapeutics will post 1.17 earnings per share for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, VP Mark Boulding sold 435 shares of PTC Therapeutics stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $64.16, for a total transaction of $27,909.60. Following the completion of the transaction, the vice president owned 105,272 shares in the company, valued at approximately $6,754,251.52. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Schmertzler sold 2,500 shares of PTC Therapeutics stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $63.39, for a total transaction of $158,475.00. Following the transaction, the director owned 1,294,094 shares of the company's stock, valued at approximately $82,032,618.66. The trade was a 0.19% decrease in their position. 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 have sold 74,678 shares of company stock valued at $5,160,898 over the last 90 days. 5.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of PTC Therapeutics during the 2nd quarter worth approximately $1,139,089,000. Jupiter Topco LLC purchased a new position in PTC Therapeutics during the second quarter worth $590,182,000. Janus Henderson Group PLC increased its position in 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 buying an additional 2,342,101 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of PTC Therapeutics by 4.7% in the second quarter. Wellington Management Group LLP now owns 4,128,273 shares of the biopharmaceutical company's stock worth $336,743,000 after acquiring an additional 185,663 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of PTC Therapeutics in the second quarter worth $140,520,000.

About PTC Therapeutics

PTC Therapeutics, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for rare diseases. Its research programs use technologies designed to address genetic and molecular causes of disease, including RNA biology, protein translation and gene therapy.

The company's commercial portfolio includes Emflaza (deflazacort), a corticosteroid approved in the United States to treat Duchenne muscular dystrophy, and Upstaza (eladocagene exuparvovec), a gene therapy for aromatic L-amino acid decarboxylase deficiency in eligible patients.

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