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

Key Points

• Analysts maintain a “Moderate Buy” consensus on PTC Therapeutics, with nine buy ratings, one strong-buy rating, two holds and two sells. The average 12-month price target is $98.55, above the stock’s recent $70.52 price.
• PTC Therapeutics reported quarterly EPS of $0.92, beating estimates of $0.24, while revenue of $360.52 million exceeded forecasts and rose 101.5% year over year.
• Shares have recently declined 4.3%, while insiders sold 192,843 shares worth approximately $15.9 million over the past 90 days, primarily through pre-arranged Rule 10b5-1 plans.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the fourteen analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $98.5455.

A number of equities research analysts have recently issued reports on the company. TD Cowen upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and increased their target price for the company from $75.00 to $90.00 in a research note on Friday, May 8th. Wells Fargo & Company boosted their price target on PTC Therapeutics from $106.00 to $109.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Jefferies Financial Group upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the stock from $76.00 to $85.00 in a report on Wednesday, May 27th. Royal Bank Of Canada increased their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald lifted their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th.

PTC Therapeutics Trading Down 4.3%

Shares of PTC Therapeutics stock opened at $70.52 on Friday. The company has a fifty day moving average price of $77.73 and a 200 day moving average price of $72.37. PTC Therapeutics has a twelve month low of $48.27 and a twelve month high of $90.87. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of -121.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.56.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate 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 had a negative return on equity of 362.45% and a negative net margin of 3.80%.The firm's revenue was up 101.5% compared to the same quarter last year. During the same period last year, the company posted ($0.83) earnings per share. Analysts forecast that PTC Therapeutics will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Eric Pauwels sold 21,277 shares of PTC Therapeutics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the sale, the insider owned 73,411 shares of the company's stock, valued at $5,505,825. The trade was a 22.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christine Marie Utter sold 19,686 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $75.56, for a total transaction of $1,487,474.16. Following the completion of the transaction, the chief accounting officer owned 70,199 shares in the company, valued at $5,304,236.44. This represents a 21.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 192,843 shares of company stock valued at $15,858,204. Corporate insiders own 5.30% of the company's stock.

Institutional Trading of PTC Therapeutics

Several large investors have recently modified their holdings of PTCT. Empowered Funds LLC acquired a new position in shares of PTC Therapeutics in the first quarter worth about $1,999,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in 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 valued at $9,109,000 after purchasing an additional 18,504 shares in the last quarter. Quantbot Technologies LP increased its holdings in 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 purchasing an additional 1,826 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PTC Therapeutics during the 2nd quarter worth approximately $1,661,000. Finally, EverSource Wealth Advisors LLC raised its position 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 valued at $56,000 after purchasing an additional 814 shares in the last quarter.

About PTC Therapeutics

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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