PTC Therapeutics (NASDAQ:PTCT) Stock Rating Lowered by Wall Street Zen

Key Points

• PTC Therapeutics was downgraded from a "strong-buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment.
• Despite the downgrade, several firms increased their target prices for the stock, with UBS Group raising it from $71.00 to $80.00, highlighting ongoing optimism from some analysts.
• In its latest earnings report, PTC Therapeutics surpassed consensus expectations, reporting $178.88 million in revenue and a loss of ($0.83) earnings per share.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) was downgraded by analysts at Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Saturday.

PTCT has been the topic of a number of other reports. Truist Financial lifted their target price on PTC Therapeutics from $80.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Bank of America boosted their price target on PTC Therapeutics from $68.00 to $84.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Robert W. Baird lowered their price target on 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 boosted their target price on PTC Therapeutics from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald lifted their price target on PTC Therapeutics from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $70.15.

PTC Therapeutics Price Performance

Shares of PTCT traded up $1.72 during trading hours on Friday, reaching $46.99. 232,418 shares of the company's stock traded hands, compared to its average volume of 1,057,492. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 6.73 and a beta of 0.54. PTC Therapeutics has a twelve month low of $30.41 and a twelve month high of $58.38. The business's fifty day simple moving average is $49.22 and its two-hundred day simple moving average is $48.93.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last released its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.07) by $0.24. The firm had revenue of $178.88 million for the quarter, compared to analyst estimates of $173.01 million. PTC Therapeutics had a negative return on equity of 106.31% and a net margin of 35.65%. PTC Therapeutics's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.29) earnings per share. On average, equities research analysts expect that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Buying and Selling at PTC Therapeutics

In other PTC Therapeutics news, CFO Pierre Gravier sold 2,516 shares of the firm'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 completion of the transaction, the chief financial officer directly owned 71,920 shares in the company, valued at $3,557,163.20. This trade represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark Elliott Boulding sold 1,929 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $46.18, for a total value of $89,081.22. Following the completion of the sale, the vice president directly owned 103,901 shares of the company's stock, valued at approximately $4,798,148.18. The trade was a 1.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,067 shares of company stock worth $809,794 over the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

Institutional Trading of PTC Therapeutics

Several hedge funds have recently added to or reduced their stakes in PTCT. Sterling Capital Management LLC increased its stake in PTC Therapeutics by 424.4% during the 4th quarter. Sterling Capital Management LLC now owns 645 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 522 shares during the period. Quantbot Technologies LP increased its stake in PTC Therapeutics by 545.5% during the 1st quarter. Quantbot Technologies LP now owns 652 shares of the biopharmaceutical company's stock worth $33,000 after acquiring an additional 551 shares during the period. PNC Financial Services Group Inc. increased its stake in PTC Therapeutics by 84.2% during 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 during the period. GAMMA Investing LLC increased its stake in PTC Therapeutics by 86.3% during 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 during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PTC Therapeutics in the 1st quarter valued at $61,000.

PTC Therapeutics Company Profile

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.