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

Key Points

• PTC Therapeutics, Inc. has an average analyst rating of "Moderate Buy", with 9 buy recommendations and 1 sell recommendation from 15 brokerages.
• The company recently reported earnings of ($0.83) per share, surpassing analyst estimates of ($1.07), and its revenue for the quarter was $178.88 million.
• Insider trading activity includes CEO Matthew B. Klein selling over 10,000 shares, reducing his ownership by 3.08%, with corporate insiders owning 5.50% of the stock.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $69.00.

Several equities analysts recently issued reports on PTCT shares. Bank of America lowered their price target on PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Robert W. Baird set a $70.00 price target on PTC Therapeutics in a research note on Friday, August 8th. Cowen restated a "hold" rating on shares of PTC Therapeutics in a research note on Friday, August 8th. Wall Street Zen lowered PTC Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley lowered their price target on PTC Therapeutics from $76.00 to $71.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th.

PTC Therapeutics Price Performance

PTCT traded up $1.45 during trading on Friday, reaching $58.40. 729,211 shares of the stock traded hands, compared to its average volume of 1,094,232. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 8.37 and a beta of 0.53. PTC Therapeutics has a fifty-two week low of $30.98 and a fifty-two week high of $58.73. The stock's 50-day simple moving average is $49.40 and its two-hundred day simple moving average is $49.21.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings results 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 company had revenue of $178.88 million during the quarter, compared to the consensus estimate of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%.The firm's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Research analysts anticipate that PTC Therapeutics will post -4.52 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Pierre Gravier sold 2,516 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total value of $124,441.36. Following the sale, the chief financial officer directly owned 71,920 shares in the company, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Allan Steven Jacobson sold 1,667 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $50.15, for a total value of $83,600.05. Following the completion of the sale, the director owned 17,451 shares in the company, valued at approximately $875,167.65. This represents a 8.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,589 shares of company stock worth $847,277. Company insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently modified their holdings of PTCT. Quantbot Technologies LP grew its stake in shares of PTC Therapeutics by 545.5% in the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock valued at $33,000 after purchasing an additional 551 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of PTC Therapeutics by 84.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 700 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 320 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of PTC Therapeutics by 86.3% in the 1st quarter. GAMMA Investing LLC now owns 952 shares of the biopharmaceutical company's stock worth $49,000 after acquiring an additional 441 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of PTC Therapeutics by 247.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,143 shares of the biopharmaceutical company's stock worth $56,000 after acquiring an additional 814 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of PTC Therapeutics in the 1st quarter worth approximately $61,000.

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.