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

Key Points

• Analysts rate PTC Therapeutics “Moderate Buy.” Among 15 analysts, 10 recommend buying, two strongly recommend buying, one advises holding, and two recommend selling; the average 12-month price target is $92.29.
• Recent broker actions have generally been positive, with Jefferies, TD Cowen, and Citigroup upgrading the stock to “buy” and Cantor Fitzgerald raising its target to $130.
• PTC reported quarterly revenue of $272.55 million, up 43.5% year over year, and an adjusted loss of $0.03 per share that beat consensus expectations. However, insiders sold 198,662 shares worth approximately $16.35 million over the past 90 days.

PTC Therapeutics, Inc. (NASDAQ:PTCT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $92.2857.

A number of brokerages recently issued reports on PTCT. Jefferies Financial Group upgraded shares of PTC Therapeutics from a "hold" rating to a "buy" rating and boosted their price objective for the company from $76.00 to $85.00 in a report on Wednesday, May 27th. TD Cowen raised shares of PTC Therapeutics from a "hold" rating to a "buy" rating and increased their target price for the stock from $75.00 to $90.00 in a research note on Friday, May 8th. Citigroup upgraded shares of PTC Therapeutics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $75.00 to $108.00 in a research report on Tuesday, June 9th. Cantor Fitzgerald upped their price objective on shares of PTC Therapeutics from $124.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their price objective on shares of PTC Therapeutics from $82.00 to $85.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 7th.

Insider Buying and Selling at PTC Therapeutics

In other news, Director Mary L. Smith sold 15,834 shares of the firm's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $90.00, for a total transaction of $1,425,060.00. Following the completion of the transaction, the director directly owned 21,813 shares in the company, valued at $1,963,170. This trade represents a 42.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Neil Gregory Almstead sold 24,613 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $88.89, for a total value of $2,187,849.57. Following the completion of the sale, the insider owned 60,299 shares in the company, valued at $5,359,978.11. This represents a 28.99% 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. Over the last 90 days, insiders sold 198,662 shares of company stock valued at $16,347,994. Corporate insiders own 5.50% of the company's stock.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently made changes to their positions in PTCT. EverSource Wealth Advisors LLC boosted its stake in shares of PTC Therapeutics by 16.9% in the first quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the biopharmaceutical company's stock valued at $71,000 after purchasing an additional 151 shares during the period. PNC Financial Services Group Inc. lifted its holdings in PTC Therapeutics by 8.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,128 shares of the biopharmaceutical company's stock worth $213,000 after buying an additional 244 shares in the last quarter. Allworth Financial LP lifted its holdings in PTC Therapeutics by 63.8% during the 4th quarter. Allworth Financial LP now owns 634 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 247 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its position in PTC Therapeutics by 5.6% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 4,963 shares of the biopharmaceutical company's stock valued at $377,000 after buying an additional 265 shares during the period. Finally, Evolve Private Wealth LLC boosted its position in PTC Therapeutics by 5.2% in the 1st quarter. Evolve Private Wealth LLC now owns 6,122 shares of the biopharmaceutical company's stock valued at $417,000 after buying an additional 305 shares during the period.

PTC Therapeutics Stock Performance

Shares of PTC Therapeutics stock opened at $76.82 on Monday. The stock has a 50 day moving average of $77.19 and a 200 day moving average of $72.82. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of -32.97, a PEG ratio of 6.69 and a beta of 0.53. PTC Therapeutics has a fifty-two week low of $43.17 and a fifty-two week high of $90.87.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $217.42 million. During the same quarter in the previous year, the business earned $10.04 earnings per share. The company's revenue for the quarter was up 43.5% on a year-over-year basis. Analysts forecast that PTC Therapeutics will post 0.41 EPS for the current year.

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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