PTC Therapeutics, Inc. (NASDAQ:PTCT) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have been given an average rating of "Moderate Buy" by the fifteen research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $65.00.

Several equities analysts have commented on PTCT shares. Royal Bank Of Canada increased their price target on shares of PTC Therapeutics from $57.00 to $58.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of PTC Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 16th. Truist Financial initiated coverage on shares of PTC Therapeutics in a research report on Tuesday, June 17th. They issued a "buy" rating and a $80.00 price target for the company. Robert W. Baird dropped their price objective on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Citigroup upgraded PTC Therapeutics from a "sell" rating to a "neutral" rating and cut their target price for the stock from $50.00 to $40.00 in a research report on Wednesday, May 7th.

PTC Therapeutics Stock Down 1.9%

PTC Therapeutics stock traded down $0.90 during trading on Thursday, reaching $47.63. The stock had a trading volume of 628,561 shares, compared to its average volume of 875,192. PTC Therapeutics has a 52-week low of $29.02 and a 52-week high of $58.38. The stock has a market cap of $3.78 billion, a PE ratio of 7.32 and a beta of 0.50. The business has a 50 day moving average price of $48.76 and a 200 day moving average price of $48.46.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biopharmaceutical company reported $10.04 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $9.19. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. PTC Therapeutics had a net margin of 33.56% and a negative return on equity of 78.56%. The company's revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.20) earnings per share. On average, equities analysts predict that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Transactions at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 883 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $46.02, for a total value of $40,635.66. Following the completion of the sale, the vice president owned 103,901 shares in the company, valued at approximately $4,781,524.02. This trade represents a 0.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Pierre Gravier sold 2,516 shares of PTC Therapeutics stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total transaction of $124,441.36. Following the completion of the sale, the chief financial officer directly owned 71,920 shares in the company, valued at approximately $3,557,163.20. The trade was a 3.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,132 shares of company stock worth $390,825 over the last 90 days. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PTC Therapeutics by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,681 shares of the biopharmaceutical company's stock worth $2,967,000 after purchasing an additional 205 shares during the period. Summit Investment Advisors Inc. boosted its holdings in PTC Therapeutics by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,968 shares of the biopharmaceutical company's stock worth $360,000 after buying an additional 253 shares in the last quarter. Xponance Inc. grew its position in PTC Therapeutics by 5.2% during the first quarter. Xponance Inc. now owns 6,372 shares of the biopharmaceutical company's stock worth $325,000 after buying an additional 314 shares during the period. PNC Financial Services Group Inc. increased its holdings in PTC Therapeutics by 84.2% in the first quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 320 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of PTC Therapeutics by 2.0% during the 1st quarter. Diversified Trust Co now owns 17,147 shares of the biopharmaceutical company's stock valued at $874,000 after acquiring an additional 329 shares during the period.

PTC Therapeutics Company Profile

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.