PTC Therapeutics (NASDAQ:PTCT) Given Overweight Rating at 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 investment analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They presently have a $118.00 target price on the biopharmaceutical company's stock. Cantor Fitzgerald's price objective suggests a potential upside of 106.36% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. Cowen restated a "hold" rating on shares of PTC Therapeutics in a report on Friday, August 8th. Truist Financial increased 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 dropped their price objective on shares of PTC Therapeutics from $82.00 to $76.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. UBS Group raised their price objective on shares of PTC Therapeutics from $71.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Robert W. Baird set a $70.00 price target on PTC Therapeutics in a research note on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PTC Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $69.00.

PTC Therapeutics Trading Down 0.1%

Shares of PTC Therapeutics stock traded down $0.08 during trading on Wednesday, hitting $57.18. 512,398 shares of the stock were exchanged, compared to its average volume of 1,091,219. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 8.20 and a beta of 0.53. The company has a fifty day moving average price of $49.24 and a 200-day moving average price of $49.17. PTC Therapeutics has a 1-year low of $30.98 and a 1-year high of $58.73.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.83) EPS for the quarter, beating 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%.The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.29) EPS. PTC Therapeutics has set its FY 2025 guidance at EPS. Equities research analysts forecast that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insider Activity

In other news, CFO Pierre Gravier sold 2,516 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $49.46, for a total value of $124,441.36. Following the transaction, the chief financial officer owned 71,920 shares of the company's stock, valued at approximately $3,557,163.20. This represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allan Steven Jacobson sold 1,667 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $50.15, for a total value of $83,600.05. Following the completion of the transaction, the director owned 17,451 shares in the company, valued at $875,167.65. This represents a 8.72% 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 over the last ninety days. Company insiders own 5.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new position in shares of PTC Therapeutics during the 4th quarter valued at about $4,742,000. Northern Trust Corp grew its position in PTC Therapeutics by 7.8% during the fourth quarter. Northern Trust Corp now owns 727,976 shares of the biopharmaceutical company's stock valued at $32,861,000 after acquiring an additional 52,714 shares during the last quarter. Brevan Howard Capital Management LP bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $551,000. Cubist Systematic Strategies LLC grew its position in PTC Therapeutics by 133.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 141,410 shares of the biopharmaceutical company's stock valued at $6,383,000 after acquiring an additional 80,736 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in PTC Therapeutics during the fourth quarter valued at approximately $46,993,000.

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.