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

Key Points

• PTC Therapeutics has a consensus analyst rating of “Moderate Buy” from 14 brokerages, with an average 12-month price target of about $88.36.
• The company reported better-than-expected Q1 results, posting an EPS loss of $0.03 versus the $0.45 loss expected and revenue of $272.55 million, up 43.5% year over year.
• There has been notable insider selling, including recent sales by executives Lee Scott Golden and Mark Elliott Boulding, while institutional investors such as UBS AM and Arrowstreet Capital have also added to or initiated positions.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has received a consensus rating of "Moderate Buy" from the fourteen brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $88.3571.

PTCT has been the topic of a number of research reports. Truist Financial raised shares of PTC Therapeutics to a "strong-buy" rating in a research note on Wednesday, March 25th. Bank of America reduced their price objective on PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Weiss Ratings downgraded PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday. TD Cowen raised PTC Therapeutics from a "hold" rating to a "buy" rating and upped their target price for the stock from $75.00 to $90.00 in a research report on Friday. Finally, Wells Fargo & Company raised their price target on PTC Therapeutics from $86.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th.

Insider Transactions at PTC Therapeutics

In other news, EVP Lee Scott Golden sold 10,000 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $63.38, for a total transaction of $633,800.00. Following the transaction, the executive vice president owned 79,944 shares in the company, valued at $5,066,850.72. This represents a 11.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Mark Elliott Boulding sold 3,540 shares of the firm's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $78.97, for a total transaction of $279,553.80. Following the transaction, the vice president owned 105,212 shares in the company, valued at $8,308,591.64. This represents a 3.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 130,032 shares of company stock valued at $8,914,175 in the last ninety days. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of PTCT. Empowered Funds LLC acquired a new position in PTC Therapeutics during the first quarter worth $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PTC Therapeutics by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,755 shares of the biopharmaceutical company's stock worth $9,109,000 after acquiring an additional 18,504 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of PTC Therapeutics by 280.1% during the 2nd quarter. Quantbot Technologies LP now owns 2,478 shares of the biopharmaceutical company's stock worth $121,000 after acquiring an additional 1,826 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of PTC Therapeutics during the 2nd quarter valued at about $1,661,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of PTC Therapeutics by 247.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock valued at $56,000 after acquiring an additional 814 shares during the last quarter.

PTC Therapeutics Stock Performance

PTCT stock opened at $75.02 on Wednesday. The firm has a 50 day simple moving average of $68.12 and a 200 day simple moving average of $72.24. PTC Therapeutics has a 52 week low of $43.17 and a 52 week high of $87.50. The stock has a market cap of $6.22 billion, a P/E ratio of -32.20 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative net margin of 22.58% and a negative return on equity of 362.45%. The firm had revenue of $272.55 million for the quarter, compared to analyst estimates of $217.42 million. During the same quarter in the prior year, the business earned $10.04 EPS. The company's revenue for the quarter was up 43.5% compared to the same quarter last year. Sell-side analysts predict that PTC Therapeutics will post -1.02 EPS for the current year.

PTC Therapeutics Company Profile

PTC Therapeutics, Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule and biologic therapies for the treatment of rare genetic disorders. Since its founding in 1998, PTC has dedicated its efforts to addressing high unmet medical needs by targeting underlying genetic causes of disease. The company's research platform emphasizes mechanisms such as nonsense suppression and RNA modulation, enabling the development of novel treatments for conditions with limited therapeutic options.

Among PTC's approved products is Translarna (ataluren), a first-in-class therapy designed to treat nonsense mutation Duchenne muscular dystrophy in select markets.

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