PTC Therapeutics, Inc. (NASDAQ:PTCT) Receives $65.00 Consensus Target Price from Analysts

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has earned an average rating of "Moderate Buy" from the fifteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $65.00.

A number of analysts recently issued reports on PTCT shares. JPMorgan Chase & Co. decreased their price objective on shares of PTC Therapeutics from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Robert W. Baird decreased their price target on shares of PTC Therapeutics from $70.00 to $66.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Citigroup raised shares of PTC Therapeutics from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $50.00 to $40.00 in a report on Wednesday, May 7th. Bank of America raised PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the company from $55.00 to $68.00 in a report on Friday, May 9th. Finally, Truist Financial began coverage on PTC Therapeutics in a research report on Tuesday, June 17th. They issued a "buy" rating and a $80.00 target price for the company.

Insider Activity at PTC Therapeutics

In other news, VP Mark Elliott Boulding sold 883 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $46.02, for a total transaction of $40,635.66. Following the completion of the transaction, the vice president now directly owns 103,901 shares in the company, valued at $4,781,524.02. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew B. Klein sold 2,804 shares of the company's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $48.74, for a total transaction of $136,666.96. Following the completion of the transaction, the chief executive officer now directly owns 273,234 shares in the company, valued at approximately $13,317,425.16. The trade was a 1.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,513 shares of company stock worth $308,498. 5.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PTC Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in PTC Therapeutics by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,178,822 shares of the biopharmaceutical company's stock worth $414,332,000 after acquiring an additional 53,688 shares during the last quarter. Wellington Management Group LLP increased its position in shares of PTC Therapeutics by 13.2% in the first quarter. Wellington Management Group LLP now owns 5,419,172 shares of the biopharmaceutical company's stock worth $276,161,000 after purchasing an additional 632,049 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of PTC Therapeutics in the fourth quarter worth approximately $148,363,000. Janus Henderson Group PLC raised its stake in PTC Therapeutics by 24.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,325,915 shares of the biopharmaceutical company's stock valued at $105,015,000 after purchasing an additional 455,698 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its position in PTC Therapeutics by 45.3% during the first quarter. Driehaus Capital Management LLC now owns 1,512,645 shares of the biopharmaceutical company's stock valued at $77,084,000 after purchasing an additional 471,586 shares during the last quarter.

PTC Therapeutics Trading Down 1.5%

Shares of PTCT traded down $0.73 on Friday, reaching $48.89. 1,026,776 shares of the company's stock traded hands, compared to its average volume of 867,998. The stock has a market cap of $3.88 billion, a PE ratio of 7.51 and a beta of 0.51. The stock's 50 day simple moving average is $48.14 and its two-hundred day simple moving average is $48.23. PTC Therapeutics has a 52-week low of $28.72 and a 52-week high of $58.38.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $10.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $9.19. PTC Therapeutics had a negative return on equity of 78.56% and a net margin of 33.56%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $437.16 million. During the same quarter in the prior year, the company earned ($1.20) EPS. The business's revenue for the quarter was down 9.6% on a year-over-year basis. Analysts forecast that PTC Therapeutics will post -4.52 earnings per share for the current year.

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.