PTC Therapeutics (NASDAQ:PTCT) Receives "Overweight" Rating from Cantor Fitzgerald

Key Points

• PTC Therapeutics received an "overweight" rating from Cantor Fitzgerald, with a price target of $118.00, suggesting a potential upside of 115.33% from its current price.
• The company's most recent earnings report revealed an EPS of ($0.83), which beat expectations, although revenue showed a 4.2% year-over-year decline.
• Insider transactions included CEO Matthew B. Klein selling over 10,000 shares, indicating a 3.08% decrease in his personal stake in the company.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report)'s stock had its "overweight" rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They presently have a $118.00 price objective on the biopharmaceutical company's stock. Cantor Fitzgerald's price target would indicate a potential upside of 115.33% from the company's current price.

Other research analysts have also recently issued research reports about the stock. UBS Group upped their target price on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Citigroup upped their price target on shares of PTC Therapeutics from $40.00 to $50.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $63.00 price target (up previously from $60.00) on shares of PTC Therapeutics in a research report on Friday, August 8th. Truist Financial upped their price target on shares of PTC Therapeutics from $80.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, Wells Fargo & Company reduced their price target on shares of PTC Therapeutics from $79.00 to $73.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PTC Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock traded up $2.37 during trading hours on Wednesday, hitting $54.80. The company had a trading volume of 51,273 shares, compared to its average volume of 1,076,904. The company's 50-day moving average is $48.79 and its two-hundred day moving average is $49.04. PTC Therapeutics has a twelve month low of $30.41 and a twelve month high of $58.38. The company has a market cap of $4.35 billion, a P/E ratio of 7.84 and a beta of 0.53.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.24. PTC Therapeutics had a net margin of 35.65% and a negative return on equity of 106.31%. The business had revenue of $178.88 million during the quarter, compared to analysts' expectations of $173.01 million. During the same quarter in the prior year, the business posted ($1.29) EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. PTC Therapeutics has set its FY 2025 guidance at EPS. Sell-side analysts expect that PTC Therapeutics will post -4.52 EPS for the current year.

Insider Transactions at PTC Therapeutics

In other news, CEO Matthew B. Klein sold 10,739 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $51.74, for a total transaction of $555,635.86. Following the transaction, the chief executive officer directly owned 337,767 shares in the company, valued at $17,476,064.58. This represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Pierre Gravier sold 2,516 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $49.46, for a total transaction of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares in the company, valued at approximately $3,557,163.20. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,589 shares of company stock worth $847,277 in the last three months. Company insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PTC Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank acquired a new position in shares of PTC Therapeutics in the fourth quarter valued at $148,363,000. Driehaus Capital Management LLC acquired a new stake in PTC Therapeutics in the 4th quarter valued at approximately $46,993,000. Nuveen LLC acquired a new stake in PTC Therapeutics in the 1st quarter valued at approximately $51,427,000. Point72 Asset Management L.P. raised its position in PTC Therapeutics by 150.6% in the 4th quarter. Point72 Asset Management L.P. now owns 1,443,362 shares of the biopharmaceutical company's stock valued at $65,153,000 after buying an additional 867,502 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in 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 valued at $276,161,000 after purchasing an additional 632,049 shares in the last quarter.

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.

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