PTC Therapeutics (NASDAQ:PTCT) Stock Rating Upgraded by Raymond James Financial

Key Points

• Raymond James upgraded PTC Therapeutics (NASDAQ:PTCT) to a “moderate buy”, consistent with a MarketBeat consensus of Moderate Buy and an average analyst price target of $84.40 amid mixed broker updates.
• PTC reported a significant quarterly shortfall, posting EPS of ($1.67) versus ($0.21) expected and revenue of $164.7M versus $281.5M expected, with revenue down 22.7% year‑over‑year.
• Company insiders have been net sellers recently — including the CEO and VP — with 124,666 shares (~$8.5M) sold in the last quarter, though insiders still own about 5.50% of the stock.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) was upgraded by investment analysts at Raymond James Financial to a "moderate buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on PTCT. Jefferies Financial Group cut shares of PTC Therapeutics from a "buy" rating to a "hold" rating and dropped their price target for the stock from $91.00 to $76.00 in a research note on Monday, March 30th. Bank of America decreased their target price on PTC Therapeutics from $97.00 to $93.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada decreased their target price on PTC Therapeutics from $87.00 to $82.00 and set a "sector perform" rating for the company in a research report on Friday, February 20th. Wells Fargo & Company decreased their target price on PTC Therapeutics from $93.00 to $86.00 and set an "overweight" rating for the company in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of PTC Therapeutics in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.40.

PTC Therapeutics Price Performance

Shares of PTC Therapeutics stock opened at $68.69 on Thursday. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 8.87 and a beta of 0.55. The firm's 50-day moving average is $68.46 and its 200 day moving average is $71.29. PTC Therapeutics has a 1 year low of $35.95 and a 1 year high of $87.50.

PTC Therapeutics (NASDAQ:PTCT - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($1.46). The firm had revenue of $164.68 million during the quarter, compared to the consensus estimate of $281.45 million. PTC Therapeutics had a negative return on equity of 362.45% and a net margin of 39.44%.The business's revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.85) EPS. On average, equities analysts expect that PTC Therapeutics will post -4.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Matthew B. Klein sold 7,371 shares of the company's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $69.36, for a total transaction of $511,252.56. Following the completion of the sale, the chief executive officer owned 387,082 shares of the company's stock, valued at $26,848,007.52. This represents a 1.87% decrease in their position. 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 3,081 shares of the company's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $69.36, for a total transaction of $213,698.16. Following the sale, the vice president directly owned 108,231 shares of the company's stock, valued at $7,506,902.16. The trade was a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,666 shares of company stock worth $8,513,116 in the last quarter. Insiders own 5.50% of the company's stock.

Institutional Investors Weigh In On PTC Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Flax Pond Capital LLC purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $456,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $397,000. Invesco Ltd. increased its position in shares of PTC Therapeutics by 38.7% during the 4th quarter. Invesco Ltd. now owns 434,285 shares of the biopharmaceutical company's stock valued at $32,988,000 after purchasing an additional 121,228 shares during the last quarter. Summit Global Investments purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $242,000. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of PTC Therapeutics during the 4th quarter valued at about $2,465,000.

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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