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

Key Points

• PTC Therapeutics, Inc. received an average rating of "Moderate Buy" from 15 analysts, with a 12-month price target of approximately $69.85.
• In the latest quarterly earnings report, the company surpassed expectations by reporting an EPS of ($0.83) against a consensus estimate of ($1.07), along with revenue of $178.88 million.
• CEO Matthew B. Klein recently sold 10,739 shares at an average price of $51.74, reducing his stake by approximately 3.08%.

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $69.8462.

PTCT has been the subject of several analyst reports. Cantor Fitzgerald upped their price objective on PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Robert W. Baird lowered their price objective on PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Barclays upped their price objective on PTC Therapeutics from $42.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 price objective (up from $60.00) on shares of PTC Therapeutics in a research report on Friday. Finally, Truist Financial upped their target price on PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th.

PTC Therapeutics Price Performance

Shares of NASDAQ PTCT opened at $45.38 on Monday. The stock's 50-day moving average is $49.44 and its two-hundred day moving average is $48.97. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 6.51 and a beta of 0.54. PTC Therapeutics has a 1-year low of $29.01 and a 1-year high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.24. The business had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. PTC Therapeutics had a negative return on equity of 86.77% and a net margin of 35.65%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.29) EPS. Equities research analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC Therapeutics news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $51.74, for a total transaction of $555,635.86. Following the completion of the sale, the chief executive officer directly owned 337,767 shares of the company's stock, valued at approximately $17,476,064.58. This trade represents a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark Elliott Boulding sold 883 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $46.02, for a total value of $40,635.66. Following the sale, the vice president directly owned 103,901 shares of the company's stock, valued at $4,781,524.02. The trade was a 0.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,067 shares of company stock valued at $809,794. 5.50% of the stock is owned by company insiders.

Institutional Trading of PTC Therapeutics

A number of hedge funds have recently added to or reduced their stakes in PTCT. Toronto Dominion Bank acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $148,363,000. Driehaus Capital Management LLC acquired a new stake in PTC Therapeutics during the 4th quarter worth approximately $46,993,000. Nuveen LLC acquired a new stake in PTC Therapeutics during the 1st quarter worth approximately $51,427,000. Point72 Asset Management L.P. raised its stake in shares of PTC Therapeutics by 150.6% during the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock worth $65,153,000 after buying an additional 867,502 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of PTC Therapeutics by 13.2% during the 1st quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock worth $276,161,000 after buying an additional 632,049 shares in the last quarter.

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.

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