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

Key Points

• PTC Therapeutics has a consensus analyst rating of “Moderate Buy”, with 10 buy ratings, 1 strong buy, 1 hold, and 2 sells. The average 12-month price target is about $91.36.
• Several analysts recently turned more positive on the stock, including Citigroup and TD Cowen, while Weiss Ratings downgraded it to sell. Truist Financial also issued a strong-buy rating.
• The company reported better-than-expected quarterly results, with EPS of -$0.03 versus expectations of -$0.45 and revenue of $272.55 million, up 43.5% year over year. Insider selling and recent institutional buying were also noted, including large stake increases by Janus Henderson and State Street.

Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $91.3571.

A number of equities analysts recently issued reports on PTCT shares. Citigroup raised PTC Therapeutics from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $108.00 in a report on Tuesday, June 9th. TD Cowen upgraded PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price target for the stock from $75.00 to $90.00 in a research report on Friday, May 8th. Morgan Stanley restated an "overweight" rating and set a $94.00 price objective on shares of PTC Therapeutics in a research note on Friday, May 8th. Weiss Ratings downgraded shares of PTC Therapeutics from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Finally, Truist Financial upgraded shares of PTC Therapeutics to a "strong-buy" rating in a research report on Wednesday, March 25th.

Insider Buying and Selling

In related news, insider Eric Pauwels sold 21,277 shares of PTC Therapeutics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $75.00, for a total transaction of $1,595,775.00. Following the transaction, the insider directly owned 73,411 shares of the company's stock, valued at $5,505,825. The trade was a 22.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew B. Klein sold 12,572 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $917,127.40. Following the completion of the sale, the chief executive officer owned 393,998 shares in the company, valued at approximately $28,742,154.10. This trade represents a 3.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 133,626 shares of company stock worth $10,534,138. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PTC Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of PTCT. Janus Henderson Group PLC raised its holdings in shares of PTC Therapeutics by 48.3% during the first quarter. Janus Henderson Group PLC now owns 7,193,433 shares of the biopharmaceutical company's stock valued at $489,997,000 after acquiring an additional 2,342,101 shares during the period. Jefferies Financial Group Inc. bought a new stake in PTC Therapeutics in the third quarter worth $97,252,000. State Street Corp increased its holdings in shares of PTC Therapeutics by 34.2% during the 4th quarter. State Street Corp now owns 4,206,126 shares of the biopharmaceutical company's stock valued at $319,497,000 after acquiring an additional 1,071,343 shares during the last quarter. Toronto Dominion Bank raised its position in shares of PTC Therapeutics by 27.5% in the fourth quarter. Toronto Dominion Bank now owns 4,138,215 shares of the biopharmaceutical company's stock valued at $314,339,000 after purchasing an additional 891,690 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in PTC Therapeutics by 4,013.1% during the 4th quarter. BNP Paribas Financial Markets now owns 828,662 shares of the biopharmaceutical company's stock worth $62,945,000 after acquiring an additional 808,515 shares during the last quarter.

PTC Therapeutics Price Performance

PTCT opened at $81.35 on Thursday. The stock has a market capitalization of $6.75 billion, a PE ratio of -34.91, a P/E/G ratio of 3.75 and a beta of 0.53. The firm's fifty day moving average price is $73.13 and its 200 day moving average price is $72.24. PTC Therapeutics has a 12-month low of $43.17 and a 12-month high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.42. PTC Therapeutics had a negative return on equity of 362.45% and a negative net margin of 22.58%.The company had revenue of $272.55 million during the quarter, compared to analyst estimates of $217.42 million. During the same quarter last year, the firm earned $10.04 EPS. The business's revenue was up 43.5% on a year-over-year basis. On average, equities research analysts forecast that PTC Therapeutics will post 0.78 earnings per share for the current fiscal 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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